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

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$2.75 and traded as high as C$3.19. Baytex Energy shares last traded at C$3.12, with a volume of 3,563,982 shares.

Analyst Ratings Changes

Separately, Scotiabank upped their target price on Baytex Energy from C$3.50 to C$4.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$4.43.

Baytex Energy Stock Performance

The company has a current ratio of 0.69, a quick ratio of 0.77 and a debt-to-equity ratio of 57.38. The firm has a market cap of C$2.40 billion, a price-to-earnings ratio of 6.64, a price-to-earnings-growth ratio of 0.12 and a beta of 0.96. The stock has a fifty day moving average price of C$3.19 and a 200 day moving average price of C$2.75.

Baytex Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Wednesday, October 1st were issued a $0.0225 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.09 dividend on an annualized basis and a yield of 2.9%. Baytex Energy’s dividend payout ratio (DPR) is 19.15%.

Baytex Energy Company Profile

Baytex Energy Corp is an oil and gas company. Geographically, the group operates in Canada and the United States. The company derives a majority of revenue from Canada. Its Canada segment includes the exploration, development, and production of crude oil and natural gas in Western Canada.