Baytex Energy (TSE:BTE) Reaches New 52-Week Low Following Analyst Downgrade

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE)’s share price hit a new 52-week low during mid-day trading on Wednesday after ATB Capital lowered their price target on the stock from C$5.50 to C$5.20. The stock traded as low as C$3.80 and last traded at C$3.81, with a volume of 2635497 shares. The stock had previously closed at C$3.98.

Other research analysts have also recently issued reports about the company. TD Securities dropped their target price on Baytex Energy from C$6.00 to C$5.50 in a research report on Tuesday, October 1st. BMO Capital Markets cut their price target on Baytex Energy from C$6.00 to C$5.50 in a report on Wednesday. Canaccord Genuity Group lowered their price objective on Baytex Energy from C$6.50 to C$6.00 in a research report on Tuesday, October 22nd. National Bankshares reduced their target price on shares of Baytex Energy from C$8.00 to C$7.50 in a report on Friday, September 27th. Finally, Raymond James raised shares of Baytex Energy to a “hold” rating in a report on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Baytex Energy has a consensus rating of “Moderate Buy” and a consensus target price of C$5.97.

Insider Buying and Selling at Baytex Energy

In other news, Senior Officer Chadwick Kalmakoff acquired 12,000 shares of Baytex Energy stock in a transaction on Friday, September 6th. The shares were bought at an average cost of C$4.18 per share, for a total transaction of C$50,160.00. 0.83% of the stock is owned by company insiders.

Baytex Energy Price Performance

The stock has a market cap of C$2.99 billion, a PE ratio of -5.39, a PEG ratio of 0.12 and a beta of 2.61. The firm’s 50-day moving average price is C$4.14 and its two-hundred day moving average price is C$4.53. The company has a current ratio of 0.72, a quick ratio of 0.77 and a debt-to-equity ratio of 62.33.

Baytex Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Thursday, January 2nd will be issued a $0.023 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 2.47%. Baytex Energy’s dividend payout ratio is presently -13.04%.

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.