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

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$5.40 and traded as high as C$6.79. Baytex Energy shares last traded at C$6.55, with a volume of 4,087,117 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Raymond James Financial increased their target price on shares of 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 shares of Baytex Energy from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$5.25 to C$7.00 in a research note on Tuesday, April 14th. Royal Bank Of Canada upped their price objective on 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. TD lifted their price target on 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. Finally, Scotia increased their price objective 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. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of C$7.00.

Baytex Energy Stock Down 4.5%

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 firm’s 50 day moving average price is C$6.49 and its two-hundred day moving average price is C$5.40. The firm has a market cap of C$4.74 billion, a price-to-earnings ratio of -6.82, a P/E/G ratio of 0.12 and a beta of 0.34.

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. 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%. As a group, sell-side analysts forecast that Baytex Energy Corp. will post 0.3703367 earnings per share for the current fiscal year.

Baytex Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Thursday, July 2nd will be paid a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, June 15th. Baytex Energy’s dividend payout ratio is -7.03%.

Insider Activity

In other news, insider James Robert Maclean acquired 10,000 shares of the stock in a transaction that occurred on Friday, March 20th. The shares were purchased at an average cost of C$5.73 per share, for a total transaction of C$57,300.00. Following the transaction, the insider directly owned 185,322 shares in the company, valued at approximately C$1,061,895.06. This represents a 5.70% increase in their position. Also, insider Nicole Marie Frechette acquired 8,500 shares of the company’s stock in a transaction on Thursday, April 2nd. The stock was purchased at an average cost of C$5.84 per share, for a total transaction of C$49,640.00. Following the completion of the purchase, the insider directly owned 73,026 shares in the company, valued at C$426,471.84. This trade represents a 13.17% increase in their position. Over the last quarter, insiders acquired 49,800 shares of company stock valued at $293,188. 0.83% of the stock is currently owned by company insiders.

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.