Baytex Energy (TSE:BTE) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$5.77 and traded as high as C$5.92. Baytex Energy shares last traded at C$5.87, with a volume of 3,705,665 shares.

Analyst Ratings Changes

A number of research analysts recently issued reports on BTE shares. Raymond James Financial boosted their price objective on Baytex Energy from C$8.00 to C$8.50 and gave the company a “strong-buy” rating in a research report on Friday. Royal Bank Of Canada boosted their price target on shares of Baytex Energy from C$6.50 to C$7.00 and gave the company a “sector perform” rating in a report on Monday, May 11th. TD upped their price target on shares of Baytex Energy from C$6.00 to C$6.50 and gave the stock a “hold” rating in a research report on Monday, May 11th. Scotia increased their price objective on shares of Baytex Energy from C$6.50 to C$7.50 and gave the stock a “sector outperform” rating in a report on Friday, May 8th. Finally, National Bank Financial lifted their price objective 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. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$7.05.

Baytex Energy Stock Performance

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 stock has a fifty day moving average price of C$6.11 and a two-hundred day moving average price of C$5.78. The company has a market cap of C$4.55 billion, a P/E ratio of -6.66, a PEG ratio of 0.12 and a beta of 0.41.

Baytex Energy (TSE:BTE) (NYSE:BTE) last posted its earnings results on Thursday, July 30th. The company reported C$0.24 EPS for the quarter. Baytex Energy had a negative return on equity of 23.15% and a negative net margin of 83.88%.The firm had revenue of C$564.88 million for the quarter. On average, equities analysts forecast that Baytex Energy Corp. will post 0.3703367 earnings per share for the current fiscal year.

Baytex Energy Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.09 annualized dividend and a dividend yield of 1.4%. Baytex Energy’s dividend payout ratio is presently -7.03%.

Insider Activity at Baytex Energy

In related news, Director Stephen David Lile Reynish sold 77,600 shares of Baytex Energy stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of C$6.85, for a total transaction of C$531,560.00. Following the sale, the director directly owned 15,400 shares in the company, valued at C$105,490. The trade was 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.