Baytex Energy (TSE:BTE) Sets New 52-Week High – Should You Buy?

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$5.58 and last traded at C$5.37, with a volume of 3975518 shares trading hands. The stock had previously closed at C$5.24.

Analyst Upgrades and Downgrades

Several research firms recently commented on BTE. Scotiabank raised their price target on shares of Baytex Energy from C$5.25 to C$5.50 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Royal Bank Of Canada cut Baytex Energy from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, January 13th. BMO Capital Markets upgraded Baytex Energy from a “hold” rating to an “outperform” rating and lifted their price target for the company from C$3.00 to C$6.00 in a research note on Thursday, November 13th. Canaccord Genuity Group cut Baytex Energy from a “buy” rating to a “hold” rating and reduced their price target for the stock from C$5.00 to C$4.75 in a report on Tuesday, January 27th. Finally, TD Securities lowered Baytex Energy from a “buy” rating to a “hold” rating and set a C$5.00 price objective on the stock. in a report on Friday, January 16th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Baytex Energy presently has an average rating of “Moderate Buy” and an average price target of C$4.79.

Baytex Energy Stock Up 0.2%

The firm has a market cap of C$4.06 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 0.12 and a beta of 1.02. The business has a fifty day simple moving average of C$4.72 and a 200 day simple moving average of C$4.01. The company has a debt-to-equity ratio of 48.05, a current ratio of 0.58 and a quick ratio of 0.77.

Baytex Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, January 2nd were paid a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, December 15th. Baytex Energy’s payout ratio is 32.14%.

Insider Transactions at Baytex Energy

In other Baytex Energy news, insider Chad Lundberg purchased 11,500 shares of the stock in a transaction that occurred on Tuesday, December 30th. The shares were purchased at an average cost of C$4.36 per share, for a total transaction of C$50,140.00. Following the completion of the transaction, the insider owned 532,801 shares of the company’s stock, valued at C$2,323,012.36. The trade was a 2.21% increase in their position. Also, Director Mark Bly acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 24th. The shares were acquired at an average cost of C$4.50 per share, with a total value of C$90,000.00. Following the purchase, the director owned 575,638 shares in the company, valued at C$2,590,371. This represents a 3.60% increase in their position. 0.83% of the stock is owned by corporate insiders.

About Baytex Energy

Baytex Energy Corp is an oil and gas company. Geographically, the group operates in Canada and the United States. The company derives a majority of revenue from Canada. Its Canada segment includes the exploration, development, and production of crude oil and natural gas in Western Canada.