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

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) rose 22.1% during mid-day trading 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

A number of research analysts recently issued reports on BTE shares. Raymond James dropped their price target on shares of Baytex Energy from C$5.00 to C$4.00 in a research report on Wednesday. BMO Capital Markets reduced their target price on Baytex Energy from C$5.00 to C$4.00 in a report on Wednesday, March 5th. Scotiabank upgraded shares of Baytex Energy to a “hold” rating in a report on Wednesday, March 19th. Atb Cap Markets cut Baytex Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 30th. Finally, 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. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Baytex Energy presently has an average rating of “Hold” and a consensus price target of C$5.33.

Baytex Energy Trading Up 2.3 %

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 company has a 50-day moving average price of C$3.08 and a 200-day moving average price of C$3.62. The company has a market capitalization of C$1.78 billion, a price-to-earnings ratio of -5.14, a P/E/G ratio of 0.12 and a beta of 2.61.

Baytex Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st were given a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend was Friday, March 14th. Baytex Energy’s dividend payout ratio (DPR) is currently -20.48%.

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.