Baytex Energy (TSE:BTE) Given New C$5.00 Price Target at CIBC

Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price decreased by CIBC from C$6.00 to C$5.00 in a research report released on Friday morning,BayStreet.CA reports.

A number of other research firms have also commented on BTE. TD Securities lowered their price objective on Baytex Energy from C$6.00 to C$5.50 in a research note on Tuesday, October 1st. Raymond James upgraded Baytex Energy to a “hold” rating in a research note on Thursday, October 17th. National Bankshares decreased their price target on Baytex Energy from C$8.00 to C$7.50 in a research note on Friday, September 27th. Royal Bank of Canada decreased their price target on Baytex Energy from C$5.50 to C$5.00 in a research note on Tuesday, January 14th. Finally, Canaccord Genuity Group decreased their price target on Baytex Energy from C$6.50 to C$6.00 in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.84.

Baytex Energy Price Performance

Baytex Energy stock opened at C$3.82 on Friday. The stock’s fifty day moving average price is C$3.79 and its two-hundred day moving average price is C$4.28. Baytex Energy has a one year low of C$3.15 and a one year high of C$5.55. The company has a debt-to-equity ratio of 62.33, a current ratio of 0.72 and a quick ratio of 0.77. The firm has a market cap of C$3.08 billion, a PE ratio of -5.54, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61.

Baytex Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, January 2nd were issued a dividend of $0.023 per share. This represents a $0.09 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Friday, December 13th. Baytex Energy’s dividend payout ratio (DPR) is -13.04%.

Insider Activity at Baytex Energy

In other news, Senior Officer Nicole Marie Frechette acquired 8,200 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were bought at an average price of C$3.67 per share, with a total value of C$30,094.00. 0.83% of the stock is currently owned by company 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.