Baytex Energy (TSE:BTE) Stock Price Down 2.1% – Should You Sell?

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) was down 2.1% during trading on Tuesday . The company traded as low as C$2.28 and last traded at C$2.28. Approximately 2,528,471 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 4,494,232 shares. The stock had previously closed at C$2.33.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. CIBC dropped their price target on shares of Baytex Energy from C$6.00 to C$5.00 in a research report on Friday, January 17th. Scotiabank upgraded shares of Baytex Energy to a “hold” rating in a report on Wednesday, March 19th. BMO Capital Markets decreased their price target on Baytex Energy from C$5.00 to C$4.00 in a research note on Wednesday, March 5th. Atb Cap Markets downgraded Baytex Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 30th. Finally, TD Securities lowered their target price on Baytex Energy from C$5.50 to C$5.00 in a report on Wednesday, March 5th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$5.59.

Baytex Energy Stock Down 9.0 %

The firm’s fifty day simple moving average is C$3.23 and its 200 day simple moving average is C$3.69. 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 cap of C$1.67 billion, a price-to-earnings ratio of -4.83, a PEG ratio of 0.12 and a beta of 2.61.

Baytex Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st were paid a dividend of $0.0225 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 4.25%. Baytex Energy’s payout ratio 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.