Baytex Energy (TSE:BTE) Hits New 52-Week Low – What’s Next?

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) reached a new 52-week low on Tuesday . The stock traded as low as C$2.91 and last traded at C$3.00, with a volume of 9994680 shares. The stock had previously closed at C$3.28.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. CIBC decreased their price objective on Baytex Energy from C$6.00 to C$5.00 in a report on Friday, January 17th. Atb Cap Markets downgraded shares of Baytex Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 30th. BMO Capital Markets lowered their price target on shares of Baytex Energy from C$6.00 to C$5.50 in a research report on Wednesday, December 4th. ATB Capital cut their price objective on shares of Baytex Energy from C$5.50 to C$5.20 in a report on Wednesday, December 4th. Finally, Royal Bank of Canada reduced their price objective on shares of Baytex Energy from C$5.50 to C$5.00 in a research note on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Baytex Energy has an average rating of “Hold” and a consensus target price of C$5.84.

Baytex Energy Stock Performance

The business’s fifty day moving average price is C$3.60 and its 200-day moving average price is C$3.98. The company has a debt-to-equity ratio of 57.38, a current ratio of 0.69 and a quick ratio of 0.77. The stock has a market capitalization of C$2.37 billion, a PE ratio of -6.83, a P/E/G ratio of 0.12 and a beta of 2.61.

Baytex Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, January 2nd were issued a $0.023 dividend. This represents a $0.09 annualized dividend and a yield of 3.07%. The ex-dividend date was Friday, December 13th. Baytex Energy’s payout ratio is -20.48%.

Insider Activity

In other Baytex Energy news, Senior Officer Nicole Marie Frechette purchased 8,200 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was purchased at an average price of C$3.67 per share, for a total transaction of C$30,094.00. Company insiders own 0.83% of the company’s stock.

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.