Baytex Energy (TSE:BTE) Stock Passes Below 200-Day Moving Average – What’s Next?

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$5.52 and traded as low as C$5.51. Baytex Energy shares last traded at C$5.67, with a volume of 3,937,390 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada increased their price objective on shares of Baytex Energy from C$6.50 to C$7.00 and gave the stock a “sector perform” rating in a research note on Monday, May 11th. TD Securities lifted their target price on shares of Baytex Energy from C$5.00 to C$5.50 and gave the stock a “hold” rating in a report on Thursday, March 5th. Canaccord Genuity Group upgraded Baytex Energy from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$5.25 to C$7.00 in a report on Tuesday, April 14th. National Bank Financial upped their target price on Baytex Energy from C$7.50 to C$8.50 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Finally, ATB Cormark Capital Markets lifted their price target on Baytex Energy from C$7.00 to C$8.50 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Baytex Energy has an average rating of “Hold” and a consensus price target of C$7.00.

Baytex Energy Stock Up 2.2%

The firm’s 50-day moving average price is C$6.49 and its 200 day moving average price is C$5.52. The company has a current ratio of 2.15, a quick ratio of 0.77 and a debt-to-equity ratio of 6.84. The company has a market capitalization of C$4.10 billion, a price-to-earnings ratio of -5.91, a PEG ratio of 0.12 and a beta of 0.34.

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

Baytex Energy Dividend Announcement

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

Insider Buying and Selling at Baytex Energy

In other Baytex Energy news, insider Chad Lundberg purchased 11,000 shares of the firm’s stock in a transaction dated Monday, March 30th. The shares were bought at an average price of C$6.15 per share, for a total transaction of C$67,650.00. Following the purchase, the insider owned 613,401 shares in the company, valued at approximately C$3,772,416.15. This trade represents a 1.83% increase in their position. Also, Director Stephen David Lile Reynish sold 77,600 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of C$6.85, for a total value of C$531,560.00. Following the transaction, the director directly owned 15,400 shares of the company’s stock, valued at C$105,490. This trade represents a 83.44% decrease in their position. In the last quarter, insiders have acquired 24,800 shares of company stock valued at $149,938. 0.83% of the stock is currently owned by corporate insiders.

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.