Baytex Energy (TSE:BTE) Stock Price Up 22.1% – Time to Buy?

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE)’s share price was up 22.1% on Wednesday . The stock traded as high as C$2.58 and last traded at C$2.54. Approximately 14,022,296 shares were traded during trading, an increase of 195% from the average daily volume of 4,751,239 shares. The stock had previously closed at C$2.08.

Analyst Ratings Changes

BTE has been the subject of several recent analyst reports. Raymond James decreased their price target on Baytex Energy from C$5.00 to C$4.00 in a research note on Wednesday. Scotiabank upgraded shares of Baytex Energy to a “hold” rating in a research report on Wednesday, March 19th. Royal Bank of Canada lowered their target price on shares of Baytex Energy from C$5.50 to C$5.00 in a research note on Tuesday, January 14th. CIBC decreased their price objective on shares of Baytex Energy from C$5.00 to C$4.25 in a report on Thursday. Finally, 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. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$5.33.

Baytex Energy Trading Up 2.3 %

The firm has a market capitalization of C$1.78 billion, a price-to-earnings ratio of -5.14, 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 firm’s 50 day moving average is C$3.08 and its 200 day moving average is C$3.62.

Baytex Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st were paid a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a dividend yield of 3.98%. The ex-dividend date was Friday, March 14th. Baytex Energy’s dividend payout ratio 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.