Baytex Energy (TSE:BTE) Shares Pass Above 200 Day Moving Average – Should You Sell?

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$5.47 and traded as high as C$5.98. Baytex Energy shares last traded at C$5.75, with a volume of 4,753,946 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BTE shares. Scotia upped their price target on Baytex Energy from C$6.50 to C$7.50 and gave the company a “sector outperform” rating in a research report on Friday, May 8th. Canaccord Genuity Group upgraded Baytex Energy from a “hold” rating to a “buy” rating and upped their price target for the company from C$5.25 to C$7.00 in a research report on Tuesday, April 14th. Raymond James Financial upped their price target on Baytex Energy from C$7.00 to C$8.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. TD upped their price target on Baytex Energy from C$6.00 to C$6.50 and gave the company a “hold” rating in a research report on Monday, May 11th. Finally, TD Securities upped their price target on Baytex Energy from C$5.00 to C$5.50 and gave the company a “hold” rating in a research report on Thursday, March 5th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Baytex Energy presently has a consensus rating of “Hold” and a consensus price target of C$7.00.

Baytex Energy Price Performance

The company has a market capitalization of C$4.16 billion, a price-to-earnings ratio of -5.99, a P/E/G ratio of 0.12 and a beta of 0.34. The company has a debt-to-equity ratio of 6.84, a quick ratio of 0.77 and a current ratio of 2.15. The business has a 50 day moving average price of C$6.51 and a 200-day moving average price of C$5.47.

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

Baytex Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Thursday, July 2nd will be paid a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, June 15th. Baytex Energy’s payout ratio is currently -7.03%.

Insider Buying and Selling

In other Baytex Energy news, insider Chadwick Kalmakoff acquired 15,000 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were bought at an average cost of C$5.73 per share, with a total value of C$85,950.00. Following the purchase, the insider directly owned 382,331 shares of the company’s stock, valued at C$2,190,756.63. This trade represents a 4.08% increase in their ownership of the stock. Also, insider Chad Lundberg purchased 11,000 shares of the company’s stock in a transaction that occurred on Monday, March 30th. The shares were purchased at an average cost of C$6.15 per share, for a total transaction of C$67,650.00. Following the completion of the purchase, the insider owned 613,401 shares in the company, valued at C$3,772,416.15. This trade represents a 1.83% increase in their position. Insiders acquired 49,800 shares of company stock worth $293,188 over the last three months. Insiders own 0.83% of the company’s stock.

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.