Baytex Energy (TSE:BTE) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-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 traded.

Analysts Set New Price Targets

A number of research firms have weighed in on BTE. National Bank Financial increased their target price on shares of 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. Royal Bank Of Canada increased their price target on Baytex Energy from C$6.50 to C$7.00 and gave the stock a “sector perform” rating in a report on Monday, May 11th. Scotia lifted their price objective on shares of 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. ATB Cormark Capital Markets upped 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. Finally, Canaccord Genuity Group raised shares of Baytex Energy from a “hold” rating to a “buy” rating and upped their price objective for the stock from C$5.25 to C$7.00 in a research report on Tuesday, April 14th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Baytex Energy presently has a consensus rating of “Hold” and a consensus price target of C$7.00.

Baytex Energy Trading Down 2.7%

The firm has a 50-day simple moving average of C$6.34 and a 200-day simple moving average of C$5.65. The company has a quick ratio of 0.77, a current ratio of 2.15 and a debt-to-equity ratio of 6.84. The stock has a market cap of C$4.14 billion, a PE ratio of -6.05, a P/E/G ratio of 0.12 and a beta of 0.41.

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

Baytex Energy Dividend Announcement

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

Insider Buying and Selling at Baytex Energy

In related news, Director Stephen David Lile Reynish sold 77,600 shares of the firm’s 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 sale, 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 ownership of the stock. Company 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.