Raymond James Cuts Baytex Energy (TSE:BTE) Price Target to C$4.00

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective reduced by Raymond James from C$5.00 to C$4.00 in a report published on Wednesday morning,BayStreet.CA reports.

Several other research firms also recently commented on BTE. CIBC decreased their price objective on Baytex Energy from C$6.00 to C$5.00 in a research note on Friday, January 17th. Atb Cap Markets cut shares of Baytex Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 30th. TD Securities dropped their price target on shares of Baytex Energy from C$5.50 to C$5.00 in a research report on Wednesday, March 5th. Scotiabank raised shares of Baytex Energy to a “hold” rating in a research note on Wednesday, March 19th. Finally, Royal Bank of Canada lowered their target price on shares of Baytex Energy from C$5.50 to C$5.00 in a research note on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Baytex Energy has an average rating of “Hold” and an average price target of C$5.33.

Baytex Energy Price Performance

Shares of Baytex Energy stock opened at C$2.26 on Wednesday. The stock has a market cap of C$1.78 billion, a P/E ratio of -5.14, a P/E/G ratio of 0.12 and a beta of 2.61. The company has a debt-to-equity ratio of 57.38, a quick ratio of 0.77 and a current ratio of 0.69. The stock’s fifty day moving average is C$3.08 and its 200 day moving average is C$3.62. Baytex Energy has a one year low of C$1.91 and a one year high of C$5.45.

Baytex Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st were given a dividend of $0.0225 per share. The ex-dividend date was Friday, March 14th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 3.98%. Baytex Energy’s dividend payout ratio is -20.48%.

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.