Baytex Energy (TSE:BTE) Shares Up 22.1% - Here's What Happened

Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE's stock price traded up 22.1% on Thursday . The stock traded as high as C$2.58 and last traded at C$2.54. 14,022,296 shares changed hands during trading, an increase of 195% from the average session volume of 4,751,239 shares. The stock had previously closed at C$2.08.

Analyst Ratings Changes

Several research analysts have commented on BTE shares. BMO Capital Markets cut their price objective on Baytex Energy from C$5.00 to C$4.00 in a research report on Wednesday, March 5th. TD Securities lowered their price objective on shares of Baytex Energy from C$5.50 to C$5.00 in a research report on Wednesday, March 5th. Raymond James decreased their target price on shares of Baytex Energy from C$5.00 to C$4.00 in a research note on Wednesday, April 9th. CIBC decreased their price objective on shares of Baytex Energy from C$5.00 to C$4.25 in a research report on Thursday, April 10th. Finally, Royal Bank of Canada dropped their target price on Baytex Energy from C$5.50 to C$5.00 in a research report on Tuesday, January 14th. Four research 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, the stock presently has a consensus rating of "Hold" and an average target price of C$5.33.

Baytex Energy Stock Up 0.4 %

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 stock's fifty day simple moving average is C$3.06 and its two-hundred day simple moving average is C$3.60. The company has a market capitalization of C$1.79 billion, a price-to-earnings ratio of -5.17, a PEG ratio of 0.12 and a beta of 2.61.

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Baytex Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st were given a dividend of $0.0225 per share. The ex-dividend date was Friday, March 14th. This represents a $0.09 dividend on an annualized basis and a yield of 3.96%. Baytex Energy's dividend payout ratio is currently -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.