Baytex Energy (TSE:BTE) Stock Price Up 22.1% - What's Next?

Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE rose 22.1% on Thursday . The company traded as high as C$2.58 and last traded at C$2.54. Approximately 14,022,296 shares changed 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.

Analysts Set New Price Targets

A number of brokerages have recently commented on BTE. Atb Cap Markets downgraded shares of Baytex Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 30th. Raymond James dropped their target price on Baytex Energy from C$5.00 to C$4.00 in a research note on Wednesday, April 9th. BMO Capital Markets lowered their price objective on shares of Baytex Energy from C$5.00 to C$4.00 in a research note on Wednesday, March 5th. TD Securities dropped their price objective on shares of Baytex Energy from C$5.50 to C$5.00 in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada decreased their target price on shares of Baytex Energy from C$5.50 to C$5.00 in a research note on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Baytex Energy presently has a consensus rating of "Hold" and an average price target of C$5.33.

Baytex Energy Trading Up 0.4 %

The company has a fifty day moving average of C$3.06 and a 200-day moving average of C$3.60. The firm has a market capitalization of C$1.79 billion, a PE ratio of -5.17, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. The company has a debt-to-equity ratio of 57.38, a current ratio of 0.69 and a quick ratio of 0.77.

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Baytex Energy Cuts Dividend

The firm 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. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.09 annualized dividend and a yield of 3.96%. Baytex Energy's payout ratio is -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.