Baytex Energy (TSE:BTE) Downgraded to "Hold" Rating by Atb Cap Markets

Atb Cap Markets cut shares of Baytex Energy (TSE:BTE - Free Report) NYSE: BTE from a strong-buy rating to a hold rating in a research report report published on Thursday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. CIBC reduced their target price on Baytex Energy from C$6.00 to C$5.00 in a report on Friday, January 17th. Royal Bank of Canada cut their price target on Baytex Energy from C$5.50 to C$5.00 in a research note on Tuesday, January 14th. Raymond James raised Baytex Energy to a "hold" rating in a research note on Thursday, October 17th. Canaccord Genuity Group cut their price target on Baytex Energy from C$6.50 to C$6.00 in a research note on Tuesday, October 22nd. Finally, BMO Capital Markets cut their price target on Baytex Energy from C$6.00 to C$5.50 in a research note on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$5.84.

Baytex Energy Price Performance

Baytex Energy stock traded up C$0.13 during midday trading on Thursday, reaching C$3.53. The company's stock had a trading volume of 3,049,848 shares, compared to its average volume of 4,037,175. Baytex Energy has a fifty-two week low of C$3.15 and a fifty-two week high of C$5.55. The company has a debt-to-equity ratio of 62.33, a quick ratio of 0.77 and a current ratio of 0.72. The stock's 50 day simple moving average is C$3.69 and its 200 day simple moving average is C$4.20. The firm has a market capitalization of C$2.84 billion, a PE ratio of -5.12, a P/E/G ratio of 0.12 and a beta of 2.61.

Baytex Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, January 2nd were given a dividend of $0.023 per share. This represents a $0.09 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Friday, December 13th. Baytex Energy's dividend payout ratio is presently -13.04%.

Insider Buying and Selling

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

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.