Baytex Energy (TSE:BTE) Trading Down 0.3% on Analyst Downgrade

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE)’s stock price fell 0.3% during mid-day trading on Wednesday after TD Securities lowered their price target on the stock from C$5.50 to C$5.00. The company traded as low as C$2.83 and last traded at C$2.99. 6,993,793 shares traded hands during trading, an increase of 69% from the average session volume of 4,132,613 shares. The stock had previously closed at C$3.00.

Other equities research analysts also recently issued research reports about the company. ATB Capital reduced their price target on Baytex Energy from C$5.50 to C$5.20 in a research report on Wednesday, December 4th. BMO Capital Markets reduced their target price on Baytex Energy from C$5.00 to C$4.00 in a report on Wednesday. CIBC decreased their price target on Baytex Energy from C$6.00 to C$5.00 in a research report on Friday, January 17th. Royal Bank of Canada cut their price objective on shares of Baytex Energy from C$5.50 to C$5.00 in a research report on Tuesday, January 14th. Finally, Atb Cap Markets lowered shares of Baytex Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$5.59.

Insider Buying and Selling

In other Baytex Energy news, Senior Officer Nicole Marie Frechette bought 8,200 shares of the stock in a transaction on Monday, December 9th. The stock was purchased at an average price of C$3.67 per share, with a total value of C$30,094.00. 0.83% of the stock is owned by corporate insiders.

Baytex Energy Stock Down 1.1 %

The firm’s fifty day moving average is C$3.56 and its 200-day moving average is C$3.95. The company has a market capitalization of C$2.23 billion, a P/E ratio of -6.42, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. The company has a debt-to-equity ratio of 57.38, a quick ratio of 0.77 and a current ratio of 0.69.

Baytex Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.023 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 3.26%. 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.