Shares of Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE were down 13% on Friday after CIBC lowered their price target on the stock from C$5.00 to C$4.25. The stock traded as low as C$2.16 and last traded at C$2.21. Approximately 10,479,806 shares changed hands during mid-day trading, an increase of 117% from the average daily volume of 4,833,076 shares. The stock had previously closed at C$2.54.
A number of other equities analysts have also recently issued reports on BTE. TD Securities reduced their target price on Baytex Energy from C$5.50 to C$5.00 in a report on Wednesday, March 5th. BMO Capital Markets reduced their price target on shares of Baytex Energy from C$5.00 to C$4.00 in a research report on Wednesday, March 5th. Royal Bank of Canada dropped their price objective on Baytex Energy from C$5.50 to C$5.00 in a research note on Tuesday, January 14th. Raymond James lowered their price target on Baytex Energy from C$5.00 to C$4.00 in a report on Wednesday, April 9th. Finally, Atb Cap Markets cut Baytex Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of C$5.33.
Check Out Our Latest Analysis on Baytex Energy
Baytex Energy Stock Performance
The company has a fifty day moving average price of C$3.03 and a two-hundred day moving average price of C$3.59. The company has a market capitalization of C$1.82 billion, a P/E ratio of -5.26, a PEG ratio of 0.12 and a beta of 2.61. The company has a debt-to-equity ratio of 57.38, a current ratio of 0.69 and a quick ratio of 0.77.
Baytex Energy Cuts Dividend
The firm also recently declared 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. This represents a $0.09 annualized dividend and a dividend yield of 3.90%. The ex-dividend date was Friday, March 14th. Baytex Energy's payout ratio is currently -20.48%.
About Baytex Energy
(
Get Free Report)
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.
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