Baytex Energy (TSE:BTE) Price Target Lowered to C$5.00 at Royal Bank of Canada

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective trimmed by Royal Bank of Canada from C$5.50 to C$5.00 in a report released on Tuesday morning,BayStreet.CA reports.

A number of other research firms have also recently weighed in on BTE. Raymond James raised shares of Baytex Energy to a “hold” rating in a report on Thursday, October 17th. BMO Capital Markets cut their price target on Baytex Energy from C$6.00 to C$5.50 in a research note on Wednesday, December 4th. ATB Capital reduced their price target on Baytex Energy from C$5.50 to C$5.20 in a report on Wednesday, December 4th. TD Securities dropped their price objective on Baytex Energy from C$6.00 to C$5.50 in a report on Tuesday, October 1st. Finally, Canaccord Genuity Group reduced their target price on Baytex Energy from C$6.50 to C$6.00 in a research note on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$5.91.

Baytex Energy Price Performance

TSE:BTE opened at C$3.86 on Tuesday. The company has a debt-to-equity ratio of 62.33, a current ratio of 0.72 and a quick ratio of 0.77. The company has a 50 day moving average price of C$3.82 and a 200-day moving average price of C$4.29. Baytex Energy has a 1-year low of C$3.15 and a 1-year high of C$5.55. The firm has a market cap of C$3.11 billion, a price-to-earnings ratio of -5.59, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61.

Baytex Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.023 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.09 annualized dividend and a yield of 2.38%. Baytex Energy’s dividend payout ratio (DPR) is currently -13.04%.

Insider Buying and Selling at Baytex Energy

In other Baytex Energy news, Senior Officer Nicole Marie Frechette purchased 8,200 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were purchased at an average cost of C$3.67 per share, with a total value of C$30,094.00. Insiders own 0.83% of the company’s stock.

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.