Target still USD$29 by National though downgraded
Baytex Energy Corp (NYSE:BTE) was downgraded by investment analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports.
Baytex Energy Corp (NYSE:BTE) opened at 19.74 on Wednesday. Baytex Energy Corp has a 52 week low of $19.46 and a 52 week high of $46.46. The stock has a 50-day moving average of $28.54 and a 200-day moving average of $38.68. The company has a market cap of $3.297 billion and a P/E ratio of 12.21.
Baytex Energy Corp (NYSE:BTE) last released its earnings data on Thursday, October 30th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.17. The company had revenue of $634.41 million for the quarter, compared to the consensus estimate of $630.00 million. The company’s revenue for the quarter was up 50.1% on a year-over-year basis. Analysts expect that Baytex Energy Corp will post $2.24 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which is scheduled for Monday, December 15th. Stockholders of record on Friday, November 28th will be given a dividend of $0.212 per share. This represents a $2.54 dividend on an annualized basis and a yield of 12.89%. The ex-dividend date of this dividend is Tuesday, November 25th.
A number of other analysts have also recently weighed in on BTE. Analysts at National Bank Financial downgraded shares of Baytex Energy Corp to a “sector perform” rating in a research note on Monday. Separately, analysts at Zacks upgraded shares of Baytex Energy Corp from an “underperform” rating to a “neutral” rating in a research note on Wednesday, November 12th. They now have a $29.30 price target on the stock. Finally, analysts at Scotiabank reiterated a “sector outperform” rating on shares of Baytex Energy Corp in a research note on Friday, October 31st. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $43.65.
Baytex Energy Corp. (NYSE:BTE), through its subsidiaries, are engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (in the provinces of British Columbia, Alberta and Saskatchewan) and in the United States (in the states of North Dakota and Wyoming).