Baytex Energy (TSE:BTE) Shares Down 1.9% Following Analyst Downgrade

Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE shares traded down 1.9% during mid-day trading on Wednesday after CIBC lowered their price target on the stock from C$5.00 to C$4.25. The stock traded as low as C$1.91 and last traded at C$2.04. 1,644,930 shares were traded during trading, a decline of 64% from the average session volume of 4,549,071 shares. The stock had previously closed at C$2.08.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada cut their target price on shares of Baytex Energy from C$5.50 to C$5.00 in a research report on Tuesday, January 14th. Raymond James reduced their price objective on shares of Baytex Energy from C$5.00 to C$4.00 in a research note on Wednesday, April 9th. Atb Cap Markets downgraded Baytex Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 30th. Scotiabank raised Baytex Energy to a "hold" rating in a research note on Wednesday, March 19th. Finally, BMO Capital Markets cut their target price on Baytex Energy from C$5.00 to C$4.00 in a research note on Wednesday, March 5th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of C$5.33.

Baytex Energy Trading Down 0.9 %

The stock has a market capitalization of C$1.77 billion, a price-to-earnings ratio of -5.10, 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. The business has a 50 day simple moving average of C$3.08 and a 200-day simple moving average of C$3.62.

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Baytex Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st were given a $0.0225 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.09 annualized dividend and a dividend yield of 4.02%. Baytex Energy's dividend payout ratio is presently -20.48%.

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.