Baytex Energy (TSE:BTE) Reaches New 52-Week Low at $3.92

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$3.92 and last traded at C$4.06, with a volume of 7059785 shares. The stock had previously closed at C$4.14.

Analyst Ratings Changes

Separately, Canaccord Genuity Group raised their price objective on Baytex Energy from C$6.25 to C$6.50 in a research report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$6.35.

Baytex Energy Stock Down 1.9 %

The company has a quick ratio of 0.77, a current ratio of 0.72 and a debt-to-equity ratio of 62.33. The company’s 50 day moving average price is C$4.80 and its 200 day moving average price is C$4.79. The firm has a market capitalization of C$3.27 billion, a price-to-earnings ratio of -5.88, a P/E/G ratio of 0.12 and a beta of 2.65.

Baytex Energy (TSE:BTE) (NYSE:BTE) last issued its quarterly earnings results on Thursday, July 25th. The company reported C$0.13 EPS for the quarter, missing analysts’ consensus estimates of C$0.16 by C($0.03). The firm had revenue of C$1.13 billion for the quarter, compared to analyst estimates of C$1.04 billion. Baytex Energy had a negative return on equity of 9.55% and a negative net margin of 11.92%. As a group, research analysts forecast that Baytex Energy Corp. will post 0.4199475 earnings per share for the current fiscal year.

Baytex Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be given a $0.023 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.09 dividend on an annualized basis and a yield of 2.27%. Baytex Energy’s dividend payout ratio is currently -13.04%.

Insider Buying and Selling

In other Baytex Energy news, Senior Officer Chadwick Kalmakoff acquired 12,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of C$4.18 per share, for a total transaction of C$50,160.00. 0.82% of the stock is owned by corporate insiders.

About Baytex Energy

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.