Baytex Energy (TSE:BTE) Price Target Increased to C$6.50 by Analysts at CIBC

Baytex Energy (TSE:BTE - Free Report) NYSE: BTE had its price target hoisted by CIBC from C$6.00 to C$6.50 in a research report report published on Monday morning, BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

A number of other research analysts have also recently issued reports on BTE. National Bankshares decreased their target price on Baytex Energy from C$8.25 to C$7.25 and set an outperform rating on the stock in a research report on Wednesday, January 10th. BMO Capital Markets set a C$6.00 price objective on Baytex Energy and gave the stock a market perform rating in a research note on Tuesday, April 9th. Royal Bank of Canada cut their price objective on Baytex Energy from C$8.00 to C$7.00 and set an outperform rating on the stock in a research note on Thursday, February 29th. ATB Capital lowered their target price on Baytex Energy from C$6.50 to C$6.00 and set an outperform rating on the stock in a research report on Thursday, February 29th. Finally, TD Securities decreased their price target on Baytex Energy from C$6.50 to C$6.00 and set a buy rating for the company in a report on Thursday, February 29th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Baytex Energy has a consensus rating of Moderate Buy and an average target price of C$6.45.

Baytex Energy Price Performance

Shares of TSE BTE traded up C$0.01 during mid-day trading on Monday, reaching C$5.01. The company had a trading volume of 3,268,303 shares, compared to its average volume of 4,338,843. The company has a debt-to-equity ratio of 63.80, a quick ratio of 0.77 and a current ratio of 0.79. Baytex Energy has a one year low of C$3.83 and a one year high of C$6.37. The firm has a market cap of C$4.12 billion, a price-to-earnings ratio of -15.27, a PEG ratio of 0.12 and a beta of 2.78. The business's 50-day simple moving average is C$4.72 and its 200 day simple moving average is C$4.85.

Baytex Energy (TSE:BTE - Get Free Report) NYSE: BTE last issued its quarterly earnings results on Wednesday, February 28th. The company reported C$0.25 EPS for the quarter, topping analysts' consensus estimates of C$0.13 by C$0.12. Baytex Energy had a negative return on equity of 6.81% and a negative net margin of 8.60%. The company had revenue of C$1.07 billion for the quarter. On average, research analysts predict that Baytex Energy will post 0.7398601 earnings per share for the current fiscal year.

Baytex Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a dividend of $0.023 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.09 dividend on an annualized basis and a yield of 1.84%. Baytex Energy's dividend payout ratio (DPR) is -27.27%.

Insider Buying and Selling

In other Baytex Energy news, Senior Officer Eric Thomas Greager purchased 20,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were purchased at an average price of C$4.25 per share, with a total value of C$85,000.00. In other Baytex Energy news, Senior Officer Eric Thomas Greager purchased 20,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were purchased at an average price of C$4.25 per share, with a total value of C$85,000.00. Also, Director Tiffany Thom Cepak sold 40,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of C$3.55, for a total value of C$142,000.00. 0.73% of the stock is currently owned by insiders.

About Baytex Energy

Baytex Energy Corp., an energy company, engages in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas.