Baytex Energy (TSE:BTE) Trading Down 0.3% – Time to Sell?

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE)’s stock price traded down 0.3% during trading on Wednesday . The company traded as low as C$2.83 and last traded at C$2.99. 6,993,793 shares changed hands during trading, an increase of 69% from the average session volume of 4,132,613 shares. The stock had previously closed at C$3.00.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BTE. Atb Cap Markets lowered Baytex Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 30th. BMO Capital Markets cut their price objective on Baytex Energy from C$6.00 to C$5.50 in a research report on Wednesday, December 4th. CIBC cut their price target on Baytex Energy from C$6.00 to C$5.00 in a report on Friday, January 17th. ATB Capital decreased their price target on shares of Baytex Energy from C$5.50 to C$5.20 in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada dropped their price objective on shares of Baytex Energy from C$5.50 to C$5.00 in a research note on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Baytex Energy presently has an average rating of “Hold” and a consensus price target of C$5.84.

Baytex Energy Stock Down 6.4 %

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 company has a fifty day moving average of C$3.59 and a two-hundred day moving average of C$3.97. The company has a market cap of C$2.21 billion, a PE ratio of -6.37, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61.

Baytex Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, January 2nd were issued a dividend of $0.023 per share. The ex-dividend date was Friday, December 13th. This represents a $0.09 annualized dividend and a yield of 3.29%. Baytex Energy’s payout ratio is -20.48%.

Insiders Place Their Bets

In other Baytex Energy news, Senior Officer Nicole Marie Frechette bought 8,200 shares of Baytex Energy stock in a transaction on Monday, December 9th. The shares were acquired at an average price of C$3.67 per share, for a total transaction of C$30,094.00. 0.83% of the stock is owned by 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.