Baytex Energy Corp. (TSE:BTE) Given Consensus Rating of “Hold” by Analysts

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) have been assigned an average rating of “Hold” from the six research firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is C$5.59.

Several equities analysts recently weighed in on BTE shares. TD Securities reduced their target price on Baytex Energy from C$5.50 to C$5.00 in a research report on Wednesday, March 5th. BMO Capital Markets reduced their target price on Baytex Energy from C$5.00 to C$4.00 in a research report on Wednesday, March 5th. Royal Bank of Canada reduced their target price on Baytex Energy from C$5.50 to C$5.00 in a research report on Tuesday, January 14th. Atb Cap Markets downgraded Baytex Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 30th. Finally, CIBC cut their price objective on Baytex Energy from C$6.00 to C$5.00 in a report on Friday, January 17th.

Baytex Energy Stock Performance

TSE BTE opened at C$3.09 on Monday. The business’s 50-day moving average price is C$3.48 and its 200 day moving average price is C$3.89. Baytex Energy has a twelve month low of C$2.74 and a twelve month high of C$5.55. The company has a market capitalization of C$2.44 billion, a PE ratio of -7.03, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. The company has a current ratio of 0.69, a quick ratio of 0.77 and a debt-to-equity ratio of 57.38.

Baytex Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st will be issued a dividend of $0.0225 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.09 annualized dividend and a dividend yield of 2.91%. Baytex Energy’s payout ratio is currently -20.48%.

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.