Baytex Energy (TSE:BTE) Reaches New 1-Year Low – Here’s Why

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) reached a new 52-week low during trading on Wednesday . The stock traded as low as C$3.14 and last traded at C$3.20, with a volume of 754439 shares changing hands. The stock had previously closed at C$3.18.

Analyst Ratings Changes

BTE has been the topic of a number of analyst reports. BMO Capital Markets cut their price objective on shares of Baytex Energy from C$6.00 to C$5.50 in a research report on Wednesday, December 4th. Atb Cap Markets lowered Baytex Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada dropped their target price on Baytex Energy from C$5.50 to C$5.00 in a research note on Tuesday, January 14th. ATB Capital lowered their price target on Baytex Energy from C$5.50 to C$5.20 in a report on Wednesday, December 4th. Finally, CIBC dropped their price target on Baytex Energy from C$6.00 to C$5.00 in a research note on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$5.84.

Baytex Energy Stock Performance

The firm’s 50 day moving average is C$3.61 and its two-hundred day moving average is C$4.03. The stock has a market capitalization of C$2.51 billion, a PE ratio of -7.24, a P/E/G 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors 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 2.89%. Baytex Energy’s payout ratio is -20.48%.

Insider Transactions at Baytex Energy

In other news, Senior Officer Nicole Marie Frechette purchased 8,200 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were purchased at an average price of C$3.67 per share, for a total transaction of C$30,094.00. Corporate insiders own 0.83% of the company’s stock.

About Baytex Energy

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.