Baytex Energy (TSE:BTE) Stock Price Up 22.1% – Should You Buy?

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE)’s share price traded up 22.1% on Thursday . The stock traded as high as C$2.58 and last traded at C$2.54. 14,022,296 shares changed hands during mid-day trading, an increase of 195% from the average session volume of 4,751,239 shares. The stock had previously closed at C$2.08.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. CIBC reduced their price objective on Baytex Energy from C$6.00 to C$5.00 in a research report on Friday, January 17th. Scotiabank raised Baytex Energy to a “hold” rating in a report on Wednesday, March 19th. Raymond James reduced their price objective on shares of Baytex Energy from C$5.00 to C$4.00 in a research note on Wednesday. Royal Bank of Canada dropped their price target on Baytex Energy from C$5.50 to C$5.00 in a research note on Tuesday, January 14th. Finally, Atb Cap Markets downgraded shares of Baytex Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 30th. Four 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 company has a consensus rating of “Hold” and an average price target of C$5.41.

Baytex Energy Trading Up 22.1 %

The company has a quick ratio of 0.77, a current ratio of 0.69 and a debt-to-equity ratio of 57.38. The firm’s 50-day moving average price is C$3.13 and its 200 day moving average price is C$3.65. The company has a market capitalization of C$2.01 billion, a P/E ratio of -5.78, a P/E/G ratio of 0.12 and a beta of 2.61.

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 yield of 3.54%. The ex-dividend date was Friday, March 14th. Baytex Energy’s payout ratio is -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.