Baytex Energy (TSE:BTE) Price Target Raised to C$8.00 at Raymond James Financial

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price target upped by Raymond James Financial from C$7.00 to C$8.00 in a research report sent to investors on Friday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also commented on BTE. TD Securities lifted their price target on shares of Baytex Energy from C$5.00 to C$5.50 and gave the company a “hold” rating in a report on Thursday, March 5th. Royal Bank Of Canada lifted their price target on shares of Baytex Energy from C$5.00 to C$6.50 and gave the company a “sector perform” rating in a report on Wednesday, April 8th. Scotiabank lifted their price target on shares of Baytex Energy from C$5.25 to C$5.50 and gave the company an “outperform” rating in a report on Tuesday, January 20th. National Bank Financial lifted their price target on shares of Baytex Energy from C$7.50 to C$8.50 and gave the company a “sector perform” rating in a report on Friday. Finally, Canaccord Genuity Group raised Baytex Energy from a “hold” rating to a “buy” rating and raised their price target for the stock from C$5.25 to C$7.00 in a report on Tuesday, April 14th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$7.00.

Baytex Energy Stock Performance

Shares of Baytex Energy stock opened at C$6.62 on Friday. The firm has a market cap of C$4.89 billion, a PE ratio of -8.49, a price-to-earnings-growth ratio of 0.12 and a beta of 0.58. The firm’s 50-day simple moving average is C$5.86 and its 200-day simple moving average is C$4.87. The company has a debt-to-equity ratio of 4.94, a quick ratio of 0.77 and a current ratio of 3.61. Baytex Energy has a 1 year low of C$2.18 and a 1 year high of C$7.14.

Baytex Energy (TSE:BTE) (NYSE:BTE) last issued its earnings results on Thursday, May 7th. The company reported C($0.09) earnings per share (EPS) for the quarter. The company had revenue of C$401.37 million during the quarter. Baytex Energy had a negative net margin of 40.77% and a negative return on equity of 16.25%. Equities analysts forecast that Baytex Energy will post 0.3703367 earnings per share for the current fiscal year.

Baytex Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, April 1st were issued a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, March 13th. Baytex Energy’s dividend payout ratio (DPR) is -11.54%.

Insider Activity

In other news, insider James Robert Maclean acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average price of C$5.73 per share, with a total value of C$57,300.00. Following the acquisition, the insider directly owned 185,322 shares in the company, valued at approximately C$1,061,895.06. The trade was a 5.70% increase in their ownership of the stock. Also, insider Chad Lundberg acquired 11,000 shares of the company’s stock in a transaction that occurred on Monday, March 30th. The stock was purchased at an average cost of C$6.15 per share, for a total transaction of C$67,650.00. Following the acquisition, the insider owned 613,401 shares in the company, valued at approximately C$3,772,416.15. This trade represents a 1.83% increase in their ownership of the stock. Insiders acquired 49,800 shares of company stock worth $293,188 in the last 90 days. 0.83% of the stock is currently owned by insiders.

Trending Headlines about Baytex Energy

Here are the key news stories impacting Baytex Energy this week:

• Positive Sentiment: National Bank Financial raised its price target on Baytex Energy from C$7.50 to C$8.50 and kept a “sector perform” rating, implying meaningful upside from the current share price. BayStreet.CA analyst ratings
• Positive Sentiment: ATB Cormark also increased its target to C$8.50 from C$7.00, reinforcing bullish sentiment from analysts. Tickerreport.com
• Positive Sentiment: Raymond James lifted its target to C$8.00 from C$7.00 and maintained an “outperform” rating, signaling confidence in Baytex’s valuation and outlook. BayStreet.CA analyst ratings
• Positive Sentiment: Scotia raised its target to C$7.50 from C$6.50 and reiterated a “sector outperform” rating, adding to the cluster of positive analyst revisions. BayStreet.CA analyst ratings
• Neutral Sentiment: Baytex reported quarterly EPS of C($0.09) on revenue of C$401.37 million, with negative net margin and return on equity, highlighting that fundamentals remain challenged. Quarterly earnings details
• Negative Sentiment: Recent coverage also pointed to earnings pressure and forecasts for sharp revenue and EPS declines, which could limit further upside if operating performance does not improve. MSN earnings pressure article

About Baytex Energy

Baytex Energy Corp is an oil and gas company. Geographically, the group operates in Canada and the United States. The company derives a majority of revenue from Canada. Its Canada segment includes the exploration, development, and production of crude oil and natural gas in Western Canada.