Baytex Energy (TSE:BTE) Trading Down 3% – What’s Next?

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) dropped 3% during mid-day trading on Tuesday . The stock traded as low as C$2.25 and last traded at C$2.26. Approximately 3,990,325 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 4,520,996 shares. The stock had previously closed at C$2.33.

Wall Street Analyst Weigh In

Several research firms have commented on BTE. Scotiabank raised shares of Baytex Energy to a “hold” rating in a research report on Wednesday, March 19th. BMO Capital Markets cut their price objective on Baytex Energy from C$5.00 to C$4.00 in a research note on Wednesday, March 5th. Atb Cap Markets cut Baytex Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 30th. TD Securities dropped their price target on shares of Baytex Energy from C$5.50 to C$5.00 in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada reduced their price objective on shares of Baytex Energy from C$5.50 to C$5.00 in a research note on Tuesday, January 14th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$5.59.

Baytex Energy Trading Down 10.7 %

The company has a 50-day simple moving average of C$3.23 and a 200 day simple moving average of C$3.69. The company has a market capitalization of C$1.64 billion, a P/E ratio of -4.73, 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 Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st were issued a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend was Friday, March 14th. Baytex Energy’s dividend payout ratio (DPR) 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.