Baytex Energy (TSE:BTE) Sets New 12-Month Low - Here's Why

Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE's share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as C$3.48 and last traded at C$3.49, with a volume of 824576 shares. The stock had previously closed at C$3.57.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. TD Securities dropped their target price on shares of Baytex Energy from C$6.00 to C$5.50 in a research report on Tuesday, October 1st. Raymond James upgraded Baytex Energy to a "hold" rating in a research note on Thursday, October 17th. Royal Bank of Canada decreased their price target on Baytex Energy from C$6.50 to C$5.50 in a research note on Tuesday, September 17th. National Bankshares dropped their price objective on Baytex Energy from C$8.00 to C$7.50 in a research report on Friday, September 27th. Finally, ATB Capital decreased their target price on Baytex Energy from C$5.50 to C$5.20 in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$5.97.

Baytex Energy Price Performance

The company has a current ratio of 0.72, a quick ratio of 0.77 and a debt-to-equity ratio of 62.33. The firm has a market cap of C$2.73 billion, a P/E ratio of -5.03, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. The business has a 50-day moving average of C$4.06 and a two-hundred day moving average of C$4.46.

Baytex Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Thursday, January 2nd will be paid a $0.023 dividend. This represents a $0.09 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, December 13th. Baytex Energy's dividend payout ratio is currently -13.04%.

Insider Activity at Baytex Energy

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

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.