National Bankshares Trims Baytex Energy (TSE:BTE) Target Price to C$7.50

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective lowered by National Bankshares from C$8.00 to C$7.50 in a research report report published on Friday morning, BayStreet.CA reports.

A number of other brokerages have also issued reports on BTE. Royal Bank of Canada lowered their target price on shares of Baytex Energy from C$6.50 to C$5.50 in a research note on Tuesday, September 17th. Canaccord Genuity Group lifted their price objective on shares of Baytex Energy from C$6.25 to C$6.50 in a report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Baytex Energy currently has a consensus rating of Moderate Buy and an average price target of C$6.28.

Baytex Energy Stock Performance

Shares of TSE:BTE opened at C$3.97 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.77 and a debt-to-equity ratio of 62.33. Baytex Energy has a 12 month low of C$3.85 and a 12 month high of C$6.37. The company has a market capitalization of C$3.20 billion, a price-to-earnings ratio of -5.75, a PEG ratio of 0.12 and a beta of 2.65. The firm’s 50-day moving average is C$4.62 and its 200 day moving average is C$4.76.

Baytex Energy (TSE:BTE) (NYSE:BTE) last released its earnings results on Thursday, July 25th. The company reported C$0.13 EPS for the quarter, missing analysts’ consensus estimates of C$0.16 by C($0.03). Baytex Energy had a negative net margin of 11.92% and a negative return on equity of 9.55%. The business had revenue of C$1.13 billion for the quarter, compared to the consensus estimate of C$1.04 billion. Research analysts predict that Baytex Energy will post 0.3651203 EPS for the current year.

Baytex Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, October 1st will be given a $0.023 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.09 annualized dividend and a dividend yield of 2.32%. Baytex Energy’s payout ratio is presently -13.04%.

Insider Activity at Baytex Energy

In related news, Senior Officer Chadwick Kalmakoff bought 12,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were acquired at an average price of C$4.18 per share, with a total value of C$50,160.00. 0.82% of the stock is currently owned by corporate insiders.

Baytex Energy Company Profile

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.