Baytex Energy (TSE:BTE) Trading 17.3% Higher – Time to Buy?

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE)’s stock price was up 17.3% during mid-day trading on Wednesday . The company traded as high as C$2.47 and last traded at C$2.44. Approximately 8,927,135 shares changed hands during mid-day trading, an increase of 93% from the average daily volume of 4,628,410 shares. The stock had previously closed at C$2.08.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BTE shares. TD Securities reduced their price target on Baytex Energy from C$5.50 to C$5.00 in a research report on Wednesday, March 5th. Scotiabank upgraded shares of Baytex Energy to a “hold” rating in a report on Wednesday, March 19th. Atb Cap Markets cut shares of Baytex Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 30th. BMO Capital Markets cut their price objective on shares of Baytex Energy from C$5.00 to C$4.00 in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada decreased their target price on shares of Baytex Energy from C$5.50 to C$5.00 in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$5.33.

Baytex Energy Stock Up 2.3 %

The company has a debt-to-equity ratio of 57.38, a quick ratio of 0.77 and a current ratio of 0.69. The company has a market capitalization of C$1.78 billion, a price-to-earnings ratio of -5.14, a PEG ratio of 0.12 and a beta of 2.61. The business’s 50 day moving average is C$3.11 and its 200 day moving average is C$3.64.

Baytex Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st were issued a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a dividend yield of 3.98%. 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.