National Bankshares Has Lowered Expectations for Baytex Energy (TSE:BTE) Stock Price

Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price reduced by National Bankshares from C$5.50 to C$5.00 in a report issued on Tuesday,BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.

Several other equities research analysts have also recently issued reports on BTE. Raymond James lowered their price objective on Baytex Energy from C$4.00 to C$3.50 and set a “market perform” rating on the stock in a report on Tuesday. CIBC lowered their price target on Baytex Energy from C$5.00 to C$4.25 in a research note on Thursday, April 10th. Scotiabank raised Baytex Energy to a “hold” rating in a research note on Wednesday, March 19th. TD Securities lowered their target price on shares of Baytex Energy from C$4.75 to C$4.50 and set a “buy” rating on the stock in a research note on Tuesday. Finally, BMO Capital Markets dropped their target price on shares of Baytex Energy from C$5.00 to C$4.00 in a report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Baytex Energy presently has an average rating of “Moderate Buy” and an average price target of C$4.68.

Baytex Energy Stock Performance

BTE opened at C$2.09 on Tuesday. The company has a market cap of C$1.65 billion, a price-to-earnings ratio of -4.76, a PEG ratio of 0.12 and a beta of 2.61. The firm’s fifty day simple moving average is C$2.67 and its two-hundred day simple moving average is C$3.38. The company has a quick ratio of 0.77, a current ratio of 0.69 and a debt-to-equity ratio of 57.38. Baytex Energy has a 52-week low of C$1.91 and a 52-week high of C$5.25.

Baytex Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st were paid a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend was Friday, March 14th. Baytex Energy’s dividend payout ratio (DPR) is presently -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.