Baytex Energy (TSE:BTE) Trading Up 22.1% - Still a Buy?

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

Analyst Ratings Changes

BTE has been the topic of several recent analyst reports. Scotiabank upgraded shares of Baytex Energy to a "hold" rating in a report on Wednesday, March 19th. Royal Bank of Canada cut their target price on Baytex Energy from C$5.50 to C$5.00 in a research note on Tuesday, January 14th. Atb Cap Markets lowered Baytex Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 30th. CIBC cut their price objective on Baytex Energy from C$5.00 to C$4.25 in a research report on Thursday, April 10th. Finally, TD Securities decreased their target price on Baytex Energy from C$5.50 to C$5.00 in a report on Wednesday, March 5th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of C$5.33.

Baytex Energy Stock Up 1.3 %

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's 50-day moving average price is C$3.06 and its two-hundred day moving average price is C$3.60. The stock has a market capitalization of C$1.81 billion, a PE ratio of -5.21, a P/E/G ratio of 0.12 and a beta of 2.61.

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Baytex Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st were given a $0.0225 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 3.93%. Baytex Energy's dividend payout ratio is currently -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.