Baytex Energy (NYSE:BTE) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Baytex Energy Corp (NYSE:BTE) (TSE:BTE)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.76 and traded as high as $5.23. Baytex Energy shares last traded at $5.1550, with a volume of 15,651,484 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BTE shares. Scotiabank restated an “outperform” rating on shares of Baytex Energy in a research note on Tuesday, April 21st. Zacks Research raised shares of Baytex Energy from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. TD Securities reaffirmed a “hold” rating on shares of Baytex Energy in a report on Monday, May 11th. Royal Bank Of Canada restated a “sector perform” rating on shares of Baytex Energy in a research note on Monday, May 11th. Finally, Wall Street Zen upgraded shares of Baytex Energy from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Baytex Energy Stock Performance

The stock has a market cap of $3.58 billion, a P/E ratio of -7.00 and a beta of 0.39. The company has a fifty day moving average of $4.57 and a 200 day moving average of $3.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.15 and a quick ratio of 2.12.

Baytex Energy (NYSE:BTE) (TSE:BTE) last issued its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.09). Baytex Energy had a negative return on equity of 10.85% and a negative net margin of 24.25%.The business had revenue of $325.64 million during the quarter, compared to the consensus estimate of $228.04 million. On average, equities analysts predict that Baytex Energy Corp will post 0.21 earnings per share for the current fiscal year.

Baytex Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 15th will be given a $0.0225 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.09 annualized dividend and a yield of 1.8%. Baytex Energy’s payout ratio is -10.00%.

Institutional Investors Weigh In On Baytex Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Magnetar Financial LLC bought a new position in shares of Baytex Energy in the fourth quarter valued at $35,000. Bank of Nova Scotia bought a new position in shares of Baytex Energy in the third quarter valued at $26,000. Jump Financial LLC bought a new position in shares of Baytex Energy in the fourth quarter valued at $39,000. Capula Management Ltd bought a new position in shares of Baytex Energy in the first quarter valued at $57,000. Finally, R Squared Ltd acquired a new stake in Baytex Energy during the 3rd quarter worth about $31,000. 46.15% of the stock is currently owned by institutional investors.

Baytex Energy Company Profile

Baytex Energy Corp. is an oil & gas exploration and production company. The firm engages in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. The company was founded on June 3, 1993 and is headquartered in Calgary, Canada.