Baytex Energy (TSE:BTE) Sets New 1-Year Low on Analyst Downgrade

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE)’s stock price reached a new 52-week low 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.

A number of other equities analysts also recently weighed in on BTE. Canaccord Genuity Group lowered their target price on shares of Baytex Energy from C$6.50 to C$6.00 in a report on Tuesday, October 22nd. Raymond James upgraded shares of Baytex Energy to a “hold” rating in a research note on Thursday, October 17th. BMO Capital Markets cut their target price on shares of Baytex Energy from C$6.00 to C$5.50 in a research note on Wednesday. National Bankshares lowered their price target on Baytex Energy from C$8.00 to C$7.50 in a research report on Friday, September 27th. Finally, TD Securities cut their price objective on Baytex Energy from C$6.00 to C$5.50 in a research report on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$5.97.

Baytex Energy Trading Up 0.3 %

The business has a fifty day moving average price of C$4.12 and a 200-day moving average price of C$4.51. The company has a quick ratio of 0.77, a current ratio of 0.72 and a debt-to-equity ratio of 62.33. The company has a market cap of C$3.04 billion, a P/E ratio of -5.48, a PEG ratio of 0.12 and a beta of 2.61.

Baytex Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Thursday, January 2nd will be paid a $0.023 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.09 annualized dividend and a yield of 2.43%. Baytex Energy’s dividend payout ratio (DPR) is presently -13.04%.

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.