Baytex Energy (TSE:BTE) Reaches New 12-Month Low – Here’s What Happened

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) reached a new 52-week low during mid-day 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. The stock had previously closed at C$3.18.

Analysts Set New Price Targets

Several equities research analysts have commented on BTE shares. Royal Bank of Canada decreased their target price on shares of Baytex Energy from C$5.50 to C$5.00 in a research report on Tuesday, January 14th. BMO Capital Markets lowered their price objective on shares of Baytex Energy from C$6.00 to C$5.50 in a research note on Wednesday, December 4th. CIBC reduced their target price on shares of Baytex Energy from C$6.00 to C$5.00 in a report on Friday, January 17th. Atb Cap Markets lowered shares of Baytex Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 30th. Finally, ATB Capital decreased their price target on Baytex Energy from C$5.50 to C$5.20 in a research note on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$5.84.

Baytex Energy Price Performance

The company has a market capitalization of C$2.51 billion, a PE ratio of -7.24, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. The company has a quick ratio of 0.77, a current ratio of 0.69 and a debt-to-equity ratio of 57.38. The business’s 50 day simple moving average is C$3.61 and its 200 day simple moving average is C$4.03.

Baytex Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, January 2nd were given 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 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 stock in a transaction that occurred on Monday, December 9th. The shares were purchased at an average cost of C$3.67 per share, for a total transaction of C$30,094.00. 0.83% of the stock is currently owned by corporate insiders.

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.