Baytex Energy (TSE:BTE) Sets New 52-Week Low at $3.92

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$3.92 and last traded at C$4.06, with a volume of 7059785 shares trading hands. The stock had previously closed at C$4.14.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lifted their price objective on shares of Baytex Energy from C$6.25 to C$6.50 in a report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Baytex Energy presently has an average rating of “Moderate Buy” and an average price target of C$6.35.

Baytex Energy Stock Performance

The firm’s 50 day moving average is C$4.78 and its 200 day moving average is C$4.79. The company has a debt-to-equity ratio of 62.33, a quick ratio of 0.77 and a current ratio of 0.72. The stock has a market cap of C$3.36 billion, a P/E ratio of -6.04, a price-to-earnings-growth ratio of 0.12 and a beta of 2.65.

Baytex Energy (TSE:BTE) (NYSE:BTE) last issued its quarterly earnings results on Thursday, July 25th. The company reported C$0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.16 by C($0.03). The business had revenue of C$1.13 billion for the quarter, compared to analyst estimates of C$1.04 billion. Baytex Energy had a negative return on equity of 9.55% and a negative net margin of 11.92%. Analysts anticipate that Baytex Energy Corp. will post 0.4199475 EPS for the current year.

Baytex Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be paid a $0.023 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Monday, September 16th. Baytex Energy’s dividend payout ratio (DPR) is presently -13.04%.

Insider Transactions at Baytex Energy

In related news, Senior Officer Chadwick Kalmakoff bought 12,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of C$4.18 per share, for a total transaction of C$50,160.00. Insiders own 0.82% of the company’s stock.

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.