Baytex Energy (TSE:BTE) Hits New 1-Year Low - Should You Sell?

Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as C$2.52 and last traded at C$2.52, with a volume of 1717206 shares changing hands. The stock had previously closed at C$2.80.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BTE shares. TD Securities cut their target price on shares of Baytex Energy from C$5.50 to C$5.00 in a research note on Wednesday, March 5th. Royal Bank of Canada decreased their price target on Baytex Energy from C$5.50 to C$5.00 in a report on Tuesday, January 14th. CIBC lowered their price target on Baytex Energy from C$6.00 to C$5.00 in a report on Friday, January 17th. BMO Capital Markets cut their price objective on shares of Baytex Energy from C$5.00 to C$4.00 in a report on Wednesday, March 5th. Finally, Atb Cap Markets cut shares of Baytex Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 30th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Baytex Energy has an average rating of "Hold" and a consensus target price of C$5.59.

Baytex Energy Stock Performance

The company has a debt-to-equity ratio of 57.38, a quick ratio of 0.77 and a current ratio of 0.69. The stock has a market cap of C$1.64 billion, a PE ratio of -4.73, a P/E/G ratio of 0.12 and a beta of 2.61. The firm's 50-day moving average is C$3.23 and its 200 day moving average is C$3.69.

Remove Ads

Baytex Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st were paid 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 4.33%. Baytex Energy's dividend payout ratio (DPR) is -20.48%.

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.