Baytex Energy (TSE:BTE) Hits New 52-Week Low – Time to Sell?

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

Analysts Set New Price Targets

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

Baytex Energy Stock Performance

The company has a market capitalization of C$1.83 billion, a P/E ratio of -5.28, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. The company has a debt-to-equity ratio of 57.38, a quick ratio of 0.77 and a current ratio of 0.69. The stock’s 50 day moving average price is C$3.26 and its 200 day moving average price is C$3.70.

Baytex Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st were given a $0.0225 dividend. This represents a $0.09 annualized dividend and a dividend yield of 3.88%. The ex-dividend date was Friday, March 14th. Baytex Energy’s dividend payout ratio (DPR) 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.