Baytex Energy (TSE:BTE) Sets New 1-Year High - What's Next?

Key Points

• Shares of Baytex Energy hit a new 52-week high of C$5.67 (last C$5.63) on heavy volume, but analysts are mixed — the consensus rating is "Hold" with an average price target of C$5.32.
• Fundamentals show weakness: Baytex reported C($1.11) EPS last quarter, with a negative net margin (-40.77%) and ROE (-16.25%), and carries high leverage (debt-to-equity 4.94).
• The company announced a quarterly dividend of $0.0225 (annualized $0.09, ~1.6% yield) and insiders increased holdings in December, though insiders own just 0.83% of shares.

Shares of Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE reached a new 52-week high on Wednesday . The company traded as high as C$5.67 and last traded at C$5.63, with a volume of 787862 shares traded. The stock had previously closed at C$5.61.

Analysts Set New Price Targets

A number of research firms have recently commented on BTE. Scotiabank raised their target price on Baytex Energy from C$5.25 to C$5.50 and gave the company an "outperform" rating in a research note on Tuesday, January 20th. Royal Bank Of Canada downgraded Baytex Energy from an "outperform" rating to a "sector perform" rating in a report on Tuesday, January 13th. Canaccord Genuity Group lowered Baytex Energy from a "buy" rating to a "hold" rating and lowered their price objective for the company from C$5.00 to C$4.75 in a research report on Tuesday, January 27th. Raymond James Financial cut shares of Baytex Energy from a "moderate buy" rating to a "hold" rating and set a C$5.50 target price on the stock. in a report on Thursday, March 5th. Finally, TD Securities upped their target price on shares of Baytex Energy from C$5.00 to C$5.50 and gave the stock a "hold" rating in a research report on Thursday, March 5th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of C$5.32.

Baytex Energy Stock Up 0.2%

The company has a debt-to-equity ratio of 4.94, a current ratio of 3.61 and a quick ratio of 0.77. The stock has a 50 day simple moving average of C$4.94 and a 200-day simple moving average of C$4.19. The firm has a market cap of C$4.15 billion, a PE ratio of -7.21, a PEG ratio of 0.12 and a beta of 0.94.

Baytex Energy (TSE:BTE - Get Free Report) NYSE: BTE last released its earnings results on Wednesday, March 4th. The company reported C($1.11) EPS for the quarter. Baytex Energy had a negative return on equity of 16.25% and a negative net margin of 40.77%. Sell-side analysts predict that Baytex Energy Corp. will post 0.3703367 EPS for the current fiscal year.

Baytex Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, April 1st will be issued a $0.0225 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.09 annualized dividend and a yield of 1.6%. Baytex Energy's payout ratio is -11.54%.

Insider Buying and Selling

In other Baytex Energy news, Director Mark Bly acquired 20,000 shares of the 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 transaction, the director owned 575,638 shares of the company's stock, valued at C$2,590,371. The trade was a 3.60% increase in their position. Also, insider Chad Lundberg bought 11,500 shares of the business's stock in a transaction on Tuesday, December 30th. The shares were acquired at an average price of C$4.36 per share, for a total transaction of C$50,140.00. Following the completion of the purchase, the insider owned 532,801 shares in the company, valued at approximately C$2,323,012.36. The trade was a 2.21% increase in their position. Corporate insiders own 0.83% of the company's stock.

Baytex Energy Company Profile

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.

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