Baytex Energy (TSE:BTE) Sets New 52-Week High – What’s Next?

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as C$7.37 and last traded at C$7.36, with a volume of 3189471 shares. The stock had previously closed at C$7.10.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. TD lifted their target price on Baytex Energy from C$6.00 to C$6.50 and gave the stock a “hold” rating in a report on Monday, May 11th. Raymond James Financial lifted their price target on shares of Baytex Energy from C$7.00 to C$8.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. TD Securities boosted their price objective on Baytex Energy from C$5.00 to C$5.50 and gave the company a “hold” rating in a report on Thursday, March 5th. Scotia boosted their price objective on Baytex Energy from C$6.50 to C$7.50 and gave the company a “sector outperform” rating in a report on Friday, May 8th. Finally, Royal Bank Of Canada boosted their price objective on Baytex Energy from C$6.50 to C$7.00 and gave the company a “sector perform” rating in a report on Monday, May 11th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$7.00.

Baytex Energy Price Performance

The firm’s 50-day moving average price is C$6.19 and its two-hundred day moving average price is C$5.13. The stock has a market cap of C$5.09 billion, a PE ratio of -7.33, a PEG ratio of 0.12 and a beta of 0.58. The company has a current ratio of 2.15, a quick ratio of 0.77 and a debt-to-equity ratio of 6.84.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its quarterly earnings results on Thursday, May 7th. The company reported C($0.09) earnings per share for the quarter. Baytex Energy had a negative return on equity of 23.15% and a negative net margin of 83.88%.The business had revenue of C$401.37 million during the quarter. On average, equities analysts expect that Baytex Energy Corp. will post 0.3703367 earnings per share for the current fiscal year.

Baytex Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, April 1st were given a dividend of $0.0225 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.09 dividend on an annualized basis and a yield of 1.3%. Baytex Energy’s dividend payout ratio is presently -7.03%.

Insider Activity

In other Baytex Energy news, insider Chadwick Kalmakoff purchased 15,000 shares of the firm’s stock in a transaction on Friday, March 20th. The stock was bought at an average cost of C$5.73 per share, for a total transaction of C$85,950.00. Following the completion of the purchase, the insider owned 382,331 shares in the company, valued at C$2,190,756.63. This represents a 4.08% increase in their position. Also, insider Nicole Marie Frechette purchased 8,500 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was acquired at an average price of C$5.84 per share, with a total value of C$49,640.00. Following the completion of the purchase, the insider owned 73,026 shares of the company’s stock, valued at C$426,471.84. The trade was a 13.17% increase in their position. Over the last three months, insiders purchased 49,800 shares of company stock worth $293,188. 0.83% of the stock is currently owned by insiders.

Baytex Energy Company Profile

Baytex Energy Corp is an oil and gas company. Geographically, the group operates in Canada and the United States. The company derives a majority of revenue from Canada. Its Canada segment includes the exploration, development, and production of crude oil and natural gas in Western Canada.