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

Shares of Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE were up 22.1% during trading on Thursday . The stock traded as high as C$2.58 and last traded at C$2.54. Approximately 14,022,296 shares traded 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.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Raymond James lowered their target price on Baytex Energy from C$5.00 to C$4.00 in a report on Wednesday, April 9th. Royal Bank of Canada dropped their price objective on shares of Baytex Energy from C$5.50 to C$5.00 in a research note on Tuesday, January 14th. TD Securities reduced their price objective on shares of Baytex Energy from C$5.50 to C$5.00 in a research note on Wednesday, March 5th. BMO Capital Markets cut their price target on Baytex Energy from C$5.00 to C$4.00 in a report on Wednesday, March 5th. Finally, Scotiabank upgraded Baytex Energy to a "hold" rating in a research note on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Baytex Energy presently has an average rating of "Hold" and an average price target of C$5.33.

Baytex Energy Stock Performance

The company has a market cap of C$1.79 billion, a PE ratio of -5.17, 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's 50-day simple moving average is C$3.06 and its two-hundred day simple moving average is C$3.60.

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Baytex Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.0225 per share. The ex-dividend date was Friday, March 14th. This represents a $0.09 annualized dividend and a yield of 3.96%. Baytex Energy's 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.