Shares of Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE fell 13% during trading 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. 10,479,806 shares changed hands during mid-day trading, an increase of 117% from the average session volume of 4,833,076 shares. The stock had previously closed at C$2.54.
BTE has been the topic of several other research reports. TD Securities decreased their price target on Baytex Energy from C$5.50 to C$5.00 in a research note on Wednesday, March 5th. Raymond James cut their price objective on Baytex Energy from C$5.00 to C$4.00 in a report on Wednesday, April 9th. Atb Cap Markets cut Baytex Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 30th. Scotiabank upgraded Baytex Energy to a "hold" rating in a report on Wednesday, March 19th. Finally, BMO Capital Markets dropped their price objective on shares of Baytex Energy from C$5.00 to C$4.00 in a report on Wednesday, March 5th. Four equities 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.com, the stock presently has an average rating of "Hold" and a consensus target price of C$5.33.
Check Out Our Latest Stock Analysis on BTE
Baytex Energy Price Performance
The firm 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 fifty day moving average of C$3.03 and a 200 day moving average of C$3.59. 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 company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st were paid a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date was Friday, March 14th. Baytex Energy's dividend payout ratio is presently -20.48%.
Baytex Energy Company Profile
(
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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