Baytex Energy (TSE:BTE) Shares Up 4.9% - Time to Buy?

Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE shares shot up 4.9% during mid-day trading on Wednesday . The company traded as high as C$2.37 and last traded at C$2.35. 2,067,763 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 4,824,832 shares. The stock had previously closed at C$2.24.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BTE shares. BMO Capital Markets decreased their price target on Baytex Energy from C$5.00 to C$4.00 in a research note on Wednesday, March 5th. CIBC lowered their target price on shares of Baytex Energy from C$5.00 to C$4.25 in a report on Thursday, April 10th. Scotiabank raised shares of Baytex Energy to a "hold" rating in a report on Wednesday, March 19th. Royal Bank of Canada decreased their price objective on shares of Baytex Energy from C$5.50 to C$5.00 in a research note on Tuesday, January 14th. Finally, TD Securities reduced their target price on Baytex Energy from C$5.50 to C$5.00 in a report on Wednesday, March 5th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of C$5.33.

Baytex Energy Stock Performance

The stock has a market cap of C$1.82 billion, a price-to-earnings ratio of -5.23, a P/E/G ratio of 0.12 and a beta of 2.61. The company has a current ratio of 0.69, a quick ratio of 0.77 and a debt-to-equity ratio of 57.38. The firm has a fifty day simple moving average of C$3.03 and a 200-day simple moving average of C$3.59.

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 issued a $0.0225 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.09 dividend on an annualized basis and a yield of 3.91%. 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.

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