Baytex Energy (TSE:BTE) Sets New 12-Month High – Still a Buy?

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$4.38 and last traded at C$4.10, with a volume of 9851084 shares traded. The stock had previously closed at C$3.74.

Analyst Ratings Changes

Several analysts recently commented on BTE shares. BMO Capital Markets raised Baytex Energy from a “hold” rating to an “outperform” rating and lifted their price objective for the stock from C$3.00 to C$6.00 in a report on Thursday. Capital One Financial raised Baytex Energy to a “hold” rating in a research report on Monday, October 27th. Scotiabank upgraded Baytex Energy from a “hold” rating to an “outperform” rating and boosted their price target for the company from C$4.00 to C$5.25 in a research note on Thursday. National Bankshares reduced their price target on shares of Baytex Energy from C$4.75 to C$4.50 and set an “outperform” rating for the company in a research report on Wednesday, October 22nd. Finally, Raymond James Financial raised shares of Baytex Energy from a “hold” rating to a “moderate buy” rating in a report on Thursday. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Baytex Energy presently has a consensus rating of “Moderate Buy” and an average target price of C$4.78.

Baytex Energy Price Performance

The firm has a fifty day moving average of C$3.40 and a two-hundred day moving average of C$2.90. The stock has a market capitalization of C$3.40 billion, a P/E ratio of 15.82, a P/E/G ratio of 0.12 and a beta of 0.72. The company has a debt-to-equity ratio of 57.38, a current ratio of 0.69 and a quick ratio of 0.77.

Baytex Energy (TSE:BTE) (NYSE:BTE) last posted its earnings results on Thursday, October 30th. The company reported C$0.04 EPS for the quarter. Baytex Energy had a negative net margin of 10.45% and a negative return on equity of 8.96%. The business had revenue of C$746.42 million for the quarter. On average, analysts predict that Baytex Energy Corp. will post 0.3703367 EPS for the current year.

Baytex Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, October 1st were paid a dividend of $0.0225 per share. The ex-dividend date was Monday, September 15th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 2.0%. Baytex Energy’s dividend payout ratio (DPR) is currently 32.14%.

Baytex Energy Company Profile

Baytex Energy Corp is an oil and gas company. Geographically, the group operates in Canada and the United States. The company derives a majority of revenue from Canada. Its Canada segment includes the exploration, development, and production of crude oil and natural gas in Western Canada.