Baytex Energy (TSE:BTE) Stock Price Down 6.4% – Should You Sell?

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE)’s share price fell 6.4% during mid-day trading on Tuesday . The company traded as low as C$2.17 and last traded at C$2.18. 4,625,669 shares traded hands during mid-day trading, an increase of 2% from the average session volume of 4,529,184 shares. The stock had previously closed at C$2.33.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. BMO Capital Markets decreased their target price on Baytex Energy from C$5.00 to C$4.00 in a research note on Wednesday, March 5th. Royal Bank of Canada reduced their price target on shares of Baytex Energy from C$5.50 to C$5.00 in a research report on Tuesday, January 14th. TD Securities cut their price objective on Baytex Energy from C$5.50 to C$5.00 in a research note on Wednesday, March 5th. Atb Cap Markets cut Baytex Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 30th. Finally, Scotiabank upgraded shares of Baytex Energy to a “hold” rating in a research report on Wednesday, March 19th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$5.59.

Baytex Energy Price Performance

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 business has a 50-day moving average of C$3.23 and a 200 day moving average of C$3.69. The firm has a market capitalization of C$1.64 billion, a PE ratio of -4.73, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61.

Baytex Energy Cuts Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Friday, March 14th. Baytex Energy’s payout ratio is -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.