Baytex Energy Corp. (TSE:BTE) Receives Average Rating of “Moderate Buy” from Brokerages

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is C$5.97.

BTE has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their target price on Baytex Energy from C$6.50 to C$5.50 in a research report on Tuesday, September 17th. TD Securities dropped their target price on shares of Baytex Energy from C$6.00 to C$5.50 in a report on Tuesday, October 1st. BMO Capital Markets decreased their price target on shares of Baytex Energy from C$6.00 to C$5.50 in a report on Wednesday, December 4th. ATB Capital dropped their price objective on Baytex Energy from C$5.50 to C$5.20 in a research note on Wednesday, December 4th. Finally, Raymond James raised Baytex Energy to a “hold” rating in a report on Thursday, October 17th.

Insider Buying and Selling

In related news, Senior Officer Nicole Marie Frechette purchased 8,200 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were acquired 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 owned by company insiders.

Baytex Energy Stock Performance

BTE opened at C$3.48 on Wednesday. The company has a debt-to-equity ratio of 62.33, a quick ratio of 0.77 and a current ratio of 0.72. The company has a market cap of C$2.80 billion, a PE ratio of -5.04, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. The stock has a 50-day moving average of C$3.94 and a 200-day moving average of C$4.40. Baytex Energy has a 52-week low of C$3.15 and a 52-week high of C$5.55.

Baytex Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.023 per share. This represents a $0.09 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, December 13th. Baytex Energy’s dividend payout ratio is presently -13.04%.

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.