Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE dropped 9.1% during trading on Thursday after CIBC lowered their price target on the stock from C$5.00 to C$4.25. The stock traded as low as C$2.31 and last traded at C$2.31. Approximately 1,467,030 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 4,685,700 shares. The stock had previously closed at C$2.54.
Other analysts have also issued research reports about the company. BMO Capital Markets dropped their price target on Baytex Energy from C$5.00 to C$4.00 in a research note on Wednesday, March 5th. Raymond James dropped their target price on shares of Baytex Energy from C$5.00 to C$4.00 in a research report on Wednesday, April 9th. Atb Cap Markets cut shares of Baytex Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 30th. TD Securities reduced their target price on Baytex Energy from C$5.50 to C$5.00 in a report on Wednesday, March 5th. Finally, Royal Bank of Canada decreased their target price on Baytex Energy from C$5.50 to C$5.00 in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of C$5.33.
Get Our Latest Research Report on BTE
Baytex Energy Price Performance
The firm has a market capitalization of C$1.78 billion, a P/E ratio of -5.14, a PEG ratio of 0.12 and a beta of 2.61. The firm has a 50-day moving average of C$3.06 and a 200-day moving average of C$3.60. The company has a debt-to-equity ratio of 57.38, a quick ratio of 0.77 and a current ratio of 0.69.
Baytex Energy Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st were given a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date was Friday, March 14th. Baytex Energy's dividend payout ratio (DPR) is -20.48%.
About Baytex Energy
(
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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