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

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

A number of other analysts also recently issued reports on the company. BMO Capital Markets set a C$6.00 price target on Baytex Energy and gave the stock a market perform rating in a report on Tuesday, April 9th. Stifel Nicolaus raised their price objective on shares of Baytex Energy from C$6.00 to C$6.25 and gave the stock a buy rating in a report on Thursday, February 29th. Raymond James lowered their target price on shares of Baytex Energy from C$6.75 to C$5.00 and set a market perform rating for the company in a report on Friday, January 19th. National Bankshares reduced their price target on shares of Baytex Energy from C$8.25 to C$7.25 and set an outperform rating for the company in a research report on Wednesday, January 10th. Finally, Royal Bank of Canada cut their price target on Baytex Energy from C$8.00 to C$7.00 and set an outperform rating on the stock in a research report on Thursday, February 29th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of C$6.45.

Baytex Energy Stock Up 0.2 %

Shares of TSE BTE opened at C$5.01 on Monday. Baytex Energy has a 12-month low of C$3.83 and a 12-month high of C$6.37. The stock has a market cap of C$4.12 billion, a P/E ratio of -15.18, a PEG ratio of 0.12 and a beta of 2.78. The company has a current ratio of 0.79, a quick ratio of 0.77 and a debt-to-equity ratio of 63.80. The business’s fifty day simple moving average is C$4.73 and its 200-day simple moving average is C$4.85.

Baytex Energy (TSE:BTE) (NYSE:BTE) last posted its quarterly earnings results on Wednesday, February 28th. The company reported C$0.25 earnings per share (EPS) for the quarter, beating 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. As a group, equities analysts predict that Baytex Energy will post 0.7398601 EPS for the current fiscal year.

Baytex Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a $0.023 dividend. This represents a $0.09 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend was Thursday, March 14th. Baytex Energy’s payout ratio is currently -27.27%.

Insider Buying and Selling

In other news, Director Tiffany Thom Cepak sold 40,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of C$3.55, for a total value of C$142,000.00. In other news, Director Tiffany Thom Cepak sold 40,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of C$3.55, for a total value of C$142,000.00. Also, Senior Officer Eric Thomas Greager acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average price of C$4.25 per share, with a total value of C$85,000.00. 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.