Baytex Energy (TSE:BTE) Reaches New 1-Year High – Should You Buy?

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE)’s stock price reached a new 52-week high on Thursday. The company traded as high as C$7.42 and last traded at C$7.42, with a volume of 3,953,512 shares changing hands. The stock had previously closed at C$7.23.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BTE shares. National Bank Financial upped their price objective on shares of Baytex Energy from C$8.50 to C$9.50 and gave the company an “outperform” rating in a research note on Wednesday, September 30th. Raymond James Financial raised their target price on shares of Baytex Energy from C$8.00 to C$8.50 and gave the stock a “strong-buy” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$7.15.

Baytex Energy Stock Performance

The firm has a market cap of C$5.24 billion, a PE ratio of -8.14, a P/E/G ratio of 0.12 and a beta of 0.60. The company has a debt-to-equity ratio of 6.94, a current ratio of 2.82 and a quick ratio of 0.77. The stock has a 50-day moving average price of C$6.66 and a 200 day moving average price of C$6.37.

Baytex Energy (TSE:BTE) (NYSE:BTE) last released its earnings results on Thursday, July 30th. The company reported C$0.24 earnings per share for the quarter. Baytex Energy had a negative return on equity of 26.41% and a negative net margin of 131.38%. The firm had revenue of C$564.88 million for the quarter. Research analysts forecast that Baytex Energy Corp. will post 0.37 earnings per share for the current year.

Baytex Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, October 1st were paid a dividend of $0.0225 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.2%. Baytex Energy’s dividend payout ratio is currently -7.34%.

About Baytex Energy

Baytex Energy Corp. is a Calgary -based energy company committed to driving shareholder value through disciplined execution. It operates a high-quality, high-return portfolio in the Western Canadian Sedimentary Basin, featuring the Pembina Duvernay and heavy oil plays in Alberta and Saskatchewan. These core assets are backed by an extensive drilling inventory and consistently generate strong cash flow.