Baytex Energy (TSE:BTE) Hits New 52-Week Low – What’s Next?

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) reached a new 52-week low on Tuesday . The company traded as low as C$2.91 and last traded at C$3.00, with a volume of 9994680 shares. The stock had previously closed at C$3.28.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BTE. ATB Capital cut their price target on Baytex Energy from C$5.50 to C$5.20 in a report on Wednesday, December 4th. CIBC cut their target price on Baytex Energy from C$6.00 to C$5.00 in a report on Friday, January 17th. BMO Capital Markets decreased their price target on shares of Baytex Energy from C$6.00 to C$5.50 in a research note on Wednesday, December 4th. Atb Cap Markets lowered shares of Baytex Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada reduced their price objective on shares of Baytex Energy from C$5.50 to C$5.00 in a report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Baytex Energy has an average rating of “Hold” and a consensus price target of C$5.84.

Baytex Energy Trading Down 8.5 %

The company has a debt-to-equity ratio of 57.38, a quick ratio of 0.77 and a current ratio of 0.69. The firm has a market capitalization of C$2.37 billion, a P/E ratio of -6.83, a PEG ratio of 0.12 and a beta of 2.61. The firm has a 50 day simple moving average of C$3.60 and a two-hundred day simple moving average of C$3.98.

Baytex Energy Dividend Announcement

The company also recently declared 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. This represents a $0.09 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Friday, December 13th. Baytex Energy’s payout ratio is currently -20.48%.

Insiders Place Their Bets

In other Baytex Energy 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 acquired 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 insiders.

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.