Baytex Energy (TSE:BTE) Hits New 12-Month High – Should You Buy?

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) hit a new 52-week high during trading on Thursday. The stock traded as high as C$7.42 and last traded at C$7.42, with a volume of 3,953,512 shares. The stock had previously closed at C$7.23.

Wall Street Analyst Weigh In

BTE has been the subject of a number of research reports. Raymond James Financial increased their price target on Baytex Energy from C$8.00 to C$8.50 and gave the company a “strong-buy” rating in a research note on Friday, July 31st. National Bank Financial boosted their price target on shares of Baytex Energy from C$8.50 to C$9.50 and gave the stock an “outperform” rating in a research report on Wednesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Baytex Energy presently has an average rating of “Moderate Buy” and a consensus target price of C$7.15.

Baytex Energy Price Performance

The firm has a market capitalization of C$5.13 billion, a P/E ratio of -7.98, a price-to-earnings-growth ratio of 0.12 and a beta of 0.60. The company has a current ratio of 2.82, a quick ratio of 0.77 and a debt-to-equity ratio of 6.94. The firm has a 50 day moving average price of C$6.60 and a 200-day moving average price of C$6.35.

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

Baytex Energy Announces Dividend

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

Baytex Energy Company Profile

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.