Baytex Energy (TSE:BTE) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$5.70 and traded as high as C$6.06. Baytex Energy shares last traded at C$5.98, with a volume of 3,019,042 shares traded.

Wall Street Analyst Weigh In

BTE has been the subject of a number of recent analyst reports. National Bank Financial raised their price objective 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. Raymond James Financial boosted their target price on Baytex Energy from C$7.00 to C$8.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Canaccord Genuity Group upgraded Baytex Energy from a “hold” rating to a “buy” rating and increased their price target for the company from C$5.25 to C$7.00 in a research note on Tuesday, April 14th. Scotia raised their price target on Baytex Energy from C$6.50 to C$7.50 and gave the company a “sector outperform” rating in a report on Friday, May 8th. Finally, Royal Bank Of Canada lifted 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 report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$7.00.

Baytex Energy Trading Up 1.2%

The company has a debt-to-equity ratio of 6.84, a current ratio of 2.15 and a quick ratio of 0.77. The business’s 50-day moving average price is C$6.26 and its two-hundred day moving average price is C$5.70. The company has a market capitalization of C$4.26 billion, a price-to-earnings ratio of -6.23, a P/E/G ratio of 0.12 and a beta of 0.41.

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

Baytex Energy Dividend Announcement

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

Insider Activity

In related news, Director Stephen David Lile Reynish sold 77,600 shares of the firm’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 owned 15,400 shares in the company, valued at approximately C$105,490. This trade represents a 83.44% decrease in their ownership of the stock. Company insiders own 0.83% of the company’s stock.

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.