Baytex Energy (TSE:BTE) Stock Price Up 2.6% – Time to Buy?

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE)’s share price was up 2.6% on Thursday . The company traded as high as C$2.41 and last traded at C$2.37. Approximately 1,070,615 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 4,831,580 shares. The stock had previously closed at C$2.31.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BTE shares. Scotiabank raised Baytex Energy to a “hold” rating in a report on Wednesday, March 19th. Raymond James decreased their price target on Baytex Energy from C$5.00 to C$4.00 in a research report on Wednesday, April 9th. 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. Atb Cap Markets downgraded shares of Baytex Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 30th. Finally, TD Securities dropped their price objective on Baytex Energy from C$5.50 to C$5.00 in a research note on Wednesday, March 5th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$5.33.

Baytex Energy Price Performance

The stock has a market capitalization of C$1.92 billion, a PE ratio of -5.53, a P/E/G ratio of 0.12 and a beta of 2.61. The firm’s 50 day simple moving average is C$3.01 and its 200 day simple moving average is C$3.58. The company has a debt-to-equity ratio of 57.38, a current ratio of 0.69 and a quick ratio of 0.77.

Baytex Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st were given a $0.0225 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.09 annualized dividend and a yield of 3.70%. 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.