Baytex Energy (TSE:BTE) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$5.70 and traded as high as C$6.06. Baytex Energy shares last traded at C$5.98, with a volume of 3,019,042 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BTE shares. National Bank Financial boosted their price target on shares of Baytex Energy from C$7.50 to C$8.50 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. TD raised their price objective on Baytex Energy from C$6.00 to C$6.50 and gave the company a “hold” rating in a report on Monday, May 11th. ATB Cormark Capital Markets lifted their target price on Baytex Energy from C$7.00 to C$8.50 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Canaccord Genuity Group upgraded Baytex Energy from a “hold” rating to a “buy” rating and upped their target price for the stock from C$5.25 to C$7.00 in a report on Tuesday, April 14th. Finally, Scotia increased their price target on Baytex Energy from C$6.50 to C$7.50 and gave the company a “sector outperform” rating in a research report on Friday, May 8th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Baytex Energy presently has an average rating of “Hold” and an average target price of C$7.00.

Baytex Energy Stock Up 2.3%

The firm has a market capitalization of C$4.42 billion, a P/E ratio of -6.46, a PEG ratio of 0.12 and a beta of 0.41. The firm’s 50 day moving average is C$6.24 and its two-hundred day moving average is C$5.71. The company has a debt-to-equity ratio of 6.84, a current ratio of 2.15 and a quick ratio of 0.77.

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

Baytex Energy Announces Dividend

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

Insider Transactions at Baytex Energy

In related news, Director Stephen David Lile Reynish sold 77,600 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director directly owned 15,400 shares in the company, valued at approximately C$105,490. This trade represents a 83.44% decrease in their position. 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.