Baytex Energy (TSE:BTE) Trading Up 22.1% – What’s Next?

by · The Markets Daily

Baytex Energy Corp. (TSE:BTE – Get Free Report) (NYSE:BTE) was up 22.1% on Wednesday . The company traded as high as C$2.58 and last traded at C$2.54. Approximately 14,022,296 shares were traded during trading, an increase of 195% from the average daily volume of 4,751,239 shares. The stock had previously closed at C$2.08.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BTE. BMO Capital Markets dropped their target price on shares of Baytex Energy from C$5.00 to C$4.00 in a report on Wednesday, March 5th. CIBC dropped their price objective on Baytex Energy from C$5.00 to C$4.25 in a research note on Thursday. Royal Bank of Canada decreased their target price on Baytex Energy from C$5.50 to C$5.00 in a research note on Tuesday, January 14th. TD Securities lowered their target price on Baytex Energy from C$5.50 to C$5.00 in a report on Wednesday, March 5th. Finally, Scotiabank upgraded Baytex Energy to a “hold” rating in a report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of C$5.33.

Read Our Latest Research Report on Baytex Energy

Baytex Energy Price Performance

The business has a 50-day moving average of C$3.08 and a 200 day moving average of C$3.62. 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 firm has a market capitalization of C$1.78 billion, a P/E ratio of -5.14, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61.

Baytex Energy Cuts Dividend

The company 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. The ex-dividend date was Friday, March 14th. This represents a $0.09 annualized dividend and a dividend yield of 3.98%. Baytex Energy’s dividend payout ratio is -20.48%.

About Baytex Energy

(Get Free Report)

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.

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