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

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$5.40 and traded as high as C$6.79. Baytex Energy shares last traded at C$6.55, with a volume of 4,087,117 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. ATB Cormark Capital Markets increased their price target on shares of Baytex Energy from C$7.00 to C$8.50 and gave the stock a “sector perform” rating in a report on Friday, May 8th. National Bank Financial increased their price target on 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. Scotia increased their price objective on shares of Baytex Energy from C$6.50 to C$7.50 and gave the company a “sector outperform” rating in a report on Friday, May 8th. Royal Bank Of Canada lifted their price target on Baytex Energy from C$6.50 to C$7.00 and gave the stock a “sector perform” rating in a research note on Monday, May 11th. Finally, TD Securities boosted their price target on shares of Baytex Energy from C$5.00 to C$5.50 and gave the stock a “hold” rating in a research report on Thursday, March 5th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$7.00.

Baytex Energy Stock Down 4.5%

The company has a market capitalization of C$4.74 billion, a PE ratio of -6.82, a P/E/G ratio of 0.12 and a beta of 0.34. The company has a debt-to-equity ratio of 6.84, a current ratio of 2.15 and a quick ratio of 0.77. The business’s 50 day simple moving average is C$6.49 and its 200 day simple moving average is C$5.40.

Baytex Energy (TSE:BTE) (NYSE:BTE) last issued its quarterly earnings data on Thursday, May 7th. The company reported C($0.09) earnings per share for the quarter. Baytex Energy had a negative return on equity of 23.15% and a negative net margin of 83.88%.The business had revenue of C$401.37 million during the quarter. As a group, analysts anticipate that Baytex Energy Corp. will post 0.3703367 earnings per share for the current fiscal year.

Baytex Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Thursday, July 2nd will be issued a $0.0225 dividend. This represents a $0.09 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, June 15th. Baytex Energy’s dividend payout ratio is currently -7.03%.

Insider Activity at Baytex Energy

In other news, insider Chadwick Kalmakoff purchased 15,000 shares of the stock in a transaction dated Friday, March 20th. The stock was acquired at an average cost of C$5.73 per share, for a total transaction of C$85,950.00. Following the completion of the transaction, the insider directly owned 382,331 shares in the company, valued at approximately C$2,190,756.63. This represents a 4.08% increase in their position. Also, insider Chad Lundberg acquired 11,000 shares of the company’s stock in a transaction dated Monday, March 30th. The stock was purchased at an average cost of C$6.15 per share, with a total value of C$67,650.00. Following the completion of the purchase, the insider directly owned 613,401 shares of the company’s stock, valued at approximately C$3,772,416.15. This represents a 1.83% increase in their position. Insiders acquired 49,800 shares of company stock valued at $293,188 over the last ninety days. 0.83% of the stock is owned by insiders.

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.