Baytex Energy (TSE:BTE) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE)’s share price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$6.41 and traded as high as C$7.72. Baytex Energy shares last traded at C$7.45, with a volume of 4,408,283 shares traded.

Analyst Ratings Changes

BTE has been the topic of a number of analyst reports. Raymond James Financial raised their target price 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, July 31st. National Bank Financial increased their price target on Baytex Energy from C$8.50 to C$9.50 and gave the stock an “outperform” rating in a research report on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$7.15.

Baytex Energy Stock Performance

The company has a market cap of C$5.38 billion, a PE ratio of -8.36, a price-to-earnings-growth ratio of 0.12 and a beta of 0.60. The firm’s fifty day moving average is C$6.81 and its 200 day moving average is C$6.42. The company has a current ratio of 2.82, a quick ratio of 0.77 and a debt-to-equity ratio of 6.94.

Baytex Energy (TSE:BTE) (NYSE:BTE) last posted its quarterly earnings data on Thursday, July 30th. The company reported C$0.24 earnings per share (EPS) for the quarter. Baytex Energy had a negative net margin of 131.38% and a negative return on equity of 26.41%. The business had revenue of C$564.88 million for the quarter. As a group, research analysts predict that Baytex Energy Corp. will post 0.37 EPS for the current fiscal year.

Baytex Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, October 1st were given a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Tuesday, September 15th. Baytex Energy’s dividend payout ratio is -7.34%.

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.