Baytex Energy (TSE:BTE) Stock Price Down 5.7% – What’s Next?

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE)’s stock price traded down 5.7% on Wednesday . The company traded as low as C$2.74 and last traded at C$2.82. 2,514,573 shares were traded during mid-day trading, a decline of 38% from the average session volume of 4,062,773 shares. The stock had previously closed at C$2.99.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. BMO Capital Markets decreased their price objective on shares of Baytex Energy from C$6.00 to C$5.50 in a report on Wednesday, December 4th. CIBC decreased their price target on shares of Baytex Energy from C$6.00 to C$5.00 in a report on Friday, January 17th. ATB Capital dropped their price objective on Baytex Energy from C$5.50 to C$5.20 in a research note on Wednesday, December 4th. Atb Cap Markets cut Baytex Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada dropped their price target on Baytex Energy from C$5.50 to C$5.00 in a research report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Baytex Energy currently has an average rating of “Hold” and a consensus target price of C$5.84.

Baytex Energy Stock Down 6.4 %

The company has a current ratio of 0.69, a quick ratio of 0.77 and a debt-to-equity ratio of 57.38. The company has a market capitalization of C$2.21 billion, a P/E ratio of -6.37, a PEG ratio of 0.12 and a beta of 2.61. The firm’s 50 day moving average price is C$3.59 and its two-hundred day moving average price is C$3.97.

Baytex Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, January 2nd were given a $0.023 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date was Friday, December 13th. Baytex Energy’s dividend payout ratio (DPR) is currently -20.48%.

Insiders Place Their Bets

In related news, Senior Officer Nicole Marie Frechette acquired 8,200 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were bought at an average price of C$3.67 per share, for a total transaction 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.