Baytex Energy (TSE:BTE) Shares Pass Above 200 Day Moving Average – Here’s Why

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$5.64 and traded as high as C$6.05. Baytex Energy shares last traded at C$5.97, with a volume of 3,720,474 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BTE shares. Royal Bank Of Canada upped their target price on shares of Baytex Energy from C$6.50 to C$7.00 and gave the stock a “sector perform” rating in a research report on Monday, May 11th. Canaccord Genuity Group raised Baytex Energy from a “hold” rating to a “buy” rating and lifted their price target for the company from C$5.25 to C$7.00 in a report on Tuesday, April 14th. Raymond James Financial boosted their price objective on Baytex Energy from C$7.00 to C$8.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. ATB Cormark Capital Markets increased their price objective 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. Finally, National Bank Financial raised 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. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Baytex Energy presently has a consensus rating of “Hold” and an average price target of C$7.00.

Baytex Energy Trading Up 3.8%

The firm has a market capitalization of C$4.25 billion, a P/E ratio of -6.22, a PEG ratio of 0.12 and a beta of 0.41. The business’s 50 day moving average is C$6.36 and its two-hundred day moving average is C$5.64. The company has a quick ratio of 0.77, a current ratio of 2.15 and a debt-to-equity ratio of 6.84.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its earnings results on Thursday, May 7th. The company reported C($0.09) earnings per share (EPS) for the quarter. The company 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%. Analysts expect that Baytex Energy Corp. will post 0.3703367 EPS for the current year.

Baytex Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, July 2nd were paid a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, June 15th. Baytex Energy’s dividend payout ratio is currently -7.03%.

Insider Activity

In other news, Director Stephen David Lile Reynish sold 77,600 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of C$6.85, for a total value of C$531,560.00. Following the completion of the transaction, the director directly owned 15,400 shares in the company, valued at C$105,490. This trade represents a 83.44% decrease in their ownership of the stock. 0.83% of the stock is owned by company insiders.

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.