Baytex Energy (TSE:BTE) Raised to Hold at Scotiabank

Scotiabank upgraded shares of Baytex Energy (TSE:BTE - Free Report) NYSE: BTE to a hold rating in a research note issued to investors on Wednesday, March 19th,Zacks.com reports.

A number of other equities analysts have also recently weighed in on the company. CIBC decreased their price objective on Baytex Energy from C$6.00 to C$5.00 in a report on Friday, January 17th. Atb Cap Markets lowered shares of Baytex Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 30th. ATB Capital dropped their price target on Baytex Energy from C$5.50 to C$5.20 in a research note on Wednesday, December 4th. TD Securities decreased their price objective on shares of Baytex Energy from C$5.50 to C$5.00 in a report on Wednesday, March 5th. Finally, BMO Capital Markets cut their target price on shares of Baytex Energy from C$5.00 to C$4.00 in a research note on Wednesday, March 5th. Five 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, the stock has an average rating of "Hold" and a consensus price target of C$5.59.

Baytex Energy Price Performance

Shares of TSE:BTE traded down C$0.05 during trading on Wednesday, reaching C$3.23. The company had a trading volume of 3,826,146 shares, compared to its average volume of 4,395,990. Baytex Energy has a 12 month low of C$2.74 and a 12 month high of C$5.55. 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 stock has a market capitalization of C$2.55 billion, a P/E ratio of -7.35, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. The company has a fifty day moving average of C$3.38 and a two-hundred day moving average of C$3.79.

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Baytex Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Friday, March 14th. Baytex Energy's dividend payout ratio 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.