Baytex Energy (TSE:BTE) Upgraded by Scotiabank to “Hold” Rating

Scotiabank upgraded shares of Baytex Energy (TSE:BTE) (NYSE:BTE) to a hold rating in a research note published on Wednesday morning,Zacks.com reports.

A number of other equities analysts have also commented on BTE. Atb Cap Markets lowered Baytex Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 30th. Royal Bank of Canada decreased their price target on shares of Baytex Energy from C$5.50 to C$5.00 in a research note on Tuesday, January 14th. TD Securities dropped their price objective on shares of Baytex Energy from C$5.50 to C$5.00 in a research note on Wednesday, March 5th. ATB Capital reduced their target price on shares of Baytex Energy from C$5.50 to C$5.20 in a report on Wednesday, December 4th. Finally, CIBC dropped their price target on Baytex Energy from C$6.00 to C$5.00 in a research report on Friday, January 17th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$5.59.

Baytex Energy Stock Performance

Shares of TSE BTE opened at C$3.14 on Wednesday. The company has a market cap of C$2.48 billion, a P/E ratio of -7.15, a P/E/G ratio of 0.12 and a beta of 2.61. Baytex Energy has a 52-week low of C$2.74 and a 52-week high of C$5.55. 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 firm’s fifty day moving average is C$3.40 and its two-hundred day moving average is C$3.83.

Baytex Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st will be paid a $0.0225 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.09 annualized dividend and a yield of 2.87%. Baytex Energy’s dividend payout ratio (DPR) is currently -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.