Baytex Energy (NYSE:BTE) Share Price Passes Above 200-Day Moving Average – What’s Next?

Baytex Energy Corp (NYSE:BTE) (TSE:BTE) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.10 and traded as high as $4.27. Baytex Energy shares last traded at $4.1350, with a volume of 20,400,956 shares.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BTE. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Baytex Energy in a research report on Monday, May 11th. Raymond James Financial upgraded shares of Baytex Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 30th. TD Securities reaffirmed a “hold” rating on shares of Baytex Energy in a report on Monday, May 11th. Canaccord Genuity Group raised shares of Baytex Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Finally, Scotiabank reiterated an “outperform” rating on shares of Baytex Energy in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold”.

Baytex Energy Trading Down 2.5%

The company has a current ratio of 2.15, a quick ratio of 2.12 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $2.95 billion, a PE ratio of -5.91 and a beta of 0.40. The stock has a 50 day moving average price of $4.54 and a 200-day moving average price of $4.10.

Baytex Energy (NYSE:BTE) (TSE:BTE) last posted its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). Baytex Energy had a negative net margin of 24.25% and a negative return on equity of 10.85%. The firm had revenue of $325.64 million for the quarter, compared to analysts’ expectations of $228.04 million. Sell-side analysts expect that Baytex Energy Corp will post 0.22 earnings per share for the current year.

Baytex Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Monday, June 15th were given a dividend of $0.0225 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.09 annualized dividend and a dividend yield of 2.2%. Baytex Energy’s dividend payout ratio is presently -10.00%.

Hedge Funds Weigh In On Baytex Energy

Several institutional investors have recently made changes to their positions in the business. Bank of Nova Scotia purchased a new position in shares of Baytex Energy in the third quarter worth approximately $26,000. Magnetar Financial LLC purchased a new stake in Baytex Energy during the fourth quarter valued at approximately $35,000. Jump Financial LLC bought a new position in Baytex Energy in the fourth quarter worth approximately $39,000. Caitong International Asset Management Co. Ltd raised its position in Baytex Energy by 98.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,490 shares of the oil and gas producer’s stock worth $44,000 after acquiring an additional 6,691 shares during the period. Finally, WINTON GROUP Ltd purchased a new position in shares of Baytex Energy during the 4th quarter worth $47,000. Institutional investors own 46.15% of the company’s stock.

About Baytex Energy

Baytex Energy Corp. is an oil & gas exploration and production company. The firm engages in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. The company was founded on June 3, 1993 and is headquartered in Calgary, Canada.