Baytex Energy (NYSE:BTE) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Baytex Energy Corp (NYSE:BTE) (TSE:BTE)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.22 and traded as high as $4.45. Baytex Energy shares last traded at $4.40, with a volume of 15,258,041 shares traded.

Analyst Ratings Changes

BTE has been the subject of a number of research reports. Scotiabank reissued an “outperform” rating on shares of Baytex Energy in a report on Tuesday, April 21st. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Baytex Energy in a research note on Monday, May 11th. Zacks Research cut shares of Baytex Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. TD Securities restated a “hold” rating on shares of Baytex Energy in a research note on Monday, August 3rd. Finally, Canaccord Genuity Group upgraded shares of Baytex Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Baytex Energy Trading Down 0.9%

The stock has a market cap of $3.05 billion, a price-to-earnings ratio of -6.51 and a beta of 0.39. The business has a 50-day simple moving average of $4.25 and a two-hundred day simple moving average of $4.23. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.79 and a current ratio of 2.82.

Baytex Energy (NYSE:BTE) (TSE:BTE) last posted its quarterly earnings results on Thursday, July 30th. The oil and gas producer reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.09. The firm had revenue of $449.32 million for the quarter, compared to analyst estimates of $218.10 million. Baytex Energy had a negative return on equity of 7.77% and a negative net margin of 26.43%. As a group, research analysts forecast that Baytex Energy Corp will post 0.25 EPS for the current year.

Baytex Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be paid a $0.0225 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.09 annualized dividend and a dividend yield of 2.1%. Baytex Energy’s dividend payout ratio is -8.96%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BTE. Magnetar Financial LLC bought a new position in Baytex Energy in the 4th quarter valued at approximately $35,000. Bank of Nova Scotia bought a new stake in Baytex Energy in the third quarter worth approximately $26,000. Jump Financial LLC bought a new position in Baytex Energy during the fourth quarter worth $39,000. Capula Management Ltd acquired a new stake in shares of Baytex Energy in the 1st quarter valued at about $57,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Baytex Energy by 98.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,490 shares of the oil and gas producer’s stock valued at $44,000 after acquiring an additional 6,691 shares in the last quarter. 46.15% of the stock is currently owned by institutional investors and hedge funds.

About Baytex Energy

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.