Baytex Energy (TSE:BTE) Trading Down 5% - What's Next?

Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE fell 5% on Monday . The stock traded as low as C$2.29 and last traded at C$2.30. 1,442,303 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 4,832,704 shares. The stock had previously closed at C$2.42.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BTE. Scotiabank raised shares of Baytex Energy to a "hold" rating in a research report on Wednesday, March 19th. TD Securities reduced their target price on shares of Baytex Energy from C$5.50 to C$5.00 in a report on Wednesday, March 5th. BMO Capital Markets dropped their price target on shares of Baytex Energy from C$5.00 to C$4.00 in a research note on Wednesday, March 5th. Atb Cap Markets lowered Baytex Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 30th. Finally, CIBC decreased their target price on Baytex Energy from C$5.00 to C$4.25 in a report on Thursday, April 10th.

Baytex Energy Stock Up 0.4 %

The firm's fifty day simple moving average is C$2.84 and its 200 day simple moving average is C$3.50. The company has a current ratio of 0.69, a quick ratio of 0.77 and a debt-to-equity ratio of 57.38. The company has a market cap of C$1.81 billion, a price-to-earnings ratio of -5.21, a PEG ratio of 0.12 and a beta of 2.61.

Baytex Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st were paid a dividend of $0.0225 per share. The ex-dividend date was Friday, March 14th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 3.93%. Baytex Energy's payout ratio is currently -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.