Baytex Energy (TSE:BTE) Stock Price Up 2.6% – Still a Buy?

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE)’s share price was up 2.6% during trading on Tuesday . The company traded as high as C$2.54 and last traded at C$2.39. Approximately 1,139,438 shares were traded during trading, a decline of 75% from the average daily volume of 4,480,668 shares. The stock had previously closed at C$2.33.

Analysts Set New Price Targets

BTE has been the subject of a number of recent analyst reports. Scotiabank raised Baytex Energy to a “hold” rating in a report on Wednesday, March 19th. Atb Cap Markets cut shares of Baytex Energy from a “strong-buy” rating to a “hold” rating in a research note 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. CIBC reduced their price objective on Baytex Energy from C$5.00 to C$4.25 in a research note on Thursday. Finally, BMO Capital Markets lowered their target price on Baytex Energy from C$5.00 to C$4.00 in a research note on Wednesday, March 5th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Baytex Energy currently has a consensus rating of “Hold” and a consensus target price of C$5.33.

Baytex Energy Stock Performance

The company has a fifty day moving average price of C$3.11 and a two-hundred day moving average price of C$3.64. The company has a debt-to-equity ratio of 57.38, a current ratio of 0.69 and a quick ratio of 0.77. The company has a market capitalization of C$1.74 billion, a P/E ratio of -5.03, a PEG ratio of 0.12 and a beta of 2.61.

Baytex Energy Cuts Dividend

The firm also recently declared 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 annualized dividend and a yield of 4.07%. The ex-dividend date was Friday, March 14th. Baytex Energy’s dividend payout ratio (DPR) is currently -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.