Baytex Energy (TSE:BTE) Reaches New 12-Month Low - Here's What Happened

Shares of Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE hit a new 52-week low during trading on Friday . The company traded as low as C$2.52 and last traded at C$2.52, with a volume of 1717206 shares traded. The stock had previously closed at C$2.80.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. 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. CIBC reduced their target price on Baytex Energy from C$6.00 to C$5.00 in a research report on Friday, January 17th. BMO Capital Markets lowered their price target 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. Finally, TD Securities dropped their price target on shares of Baytex Energy from C$5.50 to C$5.00 in a research report on Wednesday, March 5th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of C$5.59.

View Our Latest Stock Analysis on Baytex Energy

Baytex Energy Stock Performance

The stock's fifty day simple moving average is C$3.28 and its 200-day simple moving average is C$3.72. The company has a market capitalization of C$1.93 billion, a price-to-earnings ratio of -5.58, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. The company has a current ratio of 0.69, a quick ratio of 0.77 and a debt-to-equity ratio of 57.38.

Baytex Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders 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 dividend yield of 3.67%. The ex-dividend date of this dividend was Friday, March 14th. Baytex Energy's dividend payout ratio is presently -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.

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