Baytex Energy (TSE:BTE) Reaches New 52-Week Low on Analyst Downgrade

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE)’s stock price reached a new 52-week low on Wednesday after ATB Capital lowered their price target on the stock from C$5.50 to C$5.20. The company traded as low as C$3.80 and last traded at C$3.81, with a volume of 2635497 shares changing hands. The stock had previously closed at C$3.98.

BTE has been the subject of several other reports. National Bankshares lowered their target price on shares of Baytex Energy from C$8.00 to C$7.50 in a research note on Friday, September 27th. Raymond James upgraded Baytex Energy to a “hold” rating in a research note on Thursday, October 17th. TD Securities decreased their price target on Baytex Energy from C$6.00 to C$5.50 in a research note on Tuesday, October 1st. BMO Capital Markets dropped their price target on Baytex Energy from C$6.00 to C$5.50 in a research note on Wednesday. Finally, Royal Bank of Canada decreased their price objective on shares of Baytex Energy from C$6.50 to C$5.50 in a research report on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$5.97.

Insider Transactions at Baytex Energy

In other Baytex Energy news, Senior Officer Chadwick Kalmakoff bought 12,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of C$4.18 per share, for a total transaction of C$50,160.00. Company insiders own 0.83% of the company’s stock.

Baytex Energy Stock Down 6.5 %

The company has a quick ratio of 0.77, a current ratio of 0.72 and a debt-to-equity ratio of 62.33. The company has a market capitalization of C$2.99 billion, a PE ratio of -5.39, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. The firm has a 50-day moving average of C$4.14 and a two-hundred day moving average of C$4.53.

Baytex Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Thursday, January 2nd will be issued a $0.023 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.09 annualized dividend and a yield of 2.47%. Baytex Energy’s dividend payout ratio (DPR) is -13.04%.

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.