Baytex Energy (TSE:BTE) Shares Cross Above 200 Day Moving Average – Here’s Why

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$5.83 and traded as high as C$5.90. Baytex Energy shares last traded at C$5.83, with a volume of 2,174,519 shares trading hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. TD raised their target price on shares of Baytex Energy from C$6.00 to C$6.50 and gave the stock a “hold” rating in a research note on Monday, May 11th. Raymond James Financial increased their price target on shares of Baytex Energy from C$8.00 to C$8.50 and gave the company a “strong-buy” rating in a report on Friday, July 31st. Canaccord Genuity Group upgraded Baytex Energy from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$5.25 to C$7.00 in a report on Tuesday, April 14th. ATB Cormark Capital Markets increased their target price on Baytex Energy from C$7.00 to C$8.50 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Finally, Royal Bank Of Canada boosted their price target on Baytex Energy from C$6.50 to C$7.00 and gave the company a “sector perform” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$7.05.

Baytex Energy Trading Up 0.2%

The firm has a market capitalization of C$4.08 billion, a P/E ratio of -6.34, a price-to-earnings-growth ratio of 0.12 and a beta of 0.37. The business’s 50-day moving average is C$6.02 and its 200 day moving average is C$5.83. The company has a debt-to-equity ratio of 6.94, a current ratio of 2.82 and a quick ratio of 0.77.

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 firm had revenue of C$564.88 million during the quarter. As a group, analysts anticipate that Baytex Energy Corp. will post 0.3703367 EPS for the current fiscal year.

Baytex Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, July 2nd were paid a $0.0225 dividend. This represents a $0.09 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, June 15th. Baytex Energy’s payout ratio is -7.34%.

Insider Transactions at Baytex Energy

In other Baytex Energy news, Director Stephen David Lile Reynish sold 77,600 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of C$6.85, for a total transaction of C$531,560.00. Following the transaction, the director owned 15,400 shares in the company, valued at C$105,490. This trade represents a 83.44% decrease in their position. 0.83% of the stock is owned by corporate 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.