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

Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE 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 were traded during mid-day trading, an increase of 195% from the average session volume of 4,751,239 shares. The stock had previously closed at C$2.08.

Analysts Set New Price Targets

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

Baytex Energy Stock Performance

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 firm has a market cap of C$1.78 billion, a PE ratio of -5.14, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. The company's 50 day moving average price is C$3.06 and its 200 day moving average price is C$3.60.

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Baytex Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st were paid 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 3.98%. Baytex Energy's dividend payout ratio (DPR) is -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.