Baytex Energy (TSE:BTE) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$4.17 and traded as high as C$5.61. Baytex Energy shares last traded at C$5.55, with a volume of 4,489,515 shares trading hands.

Analyst Ratings Changes

BTE has been the topic of several recent analyst reports. Canaccord Genuity Group cut shares of Baytex Energy from a “buy” rating to a “hold” rating and cut their target price for the stock from C$5.00 to C$4.75 in a report on Tuesday, January 27th. Royal Bank Of Canada downgraded shares of Baytex Energy from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, January 13th. National Bank Financial raised their price target on shares of Baytex Energy from C$5.00 to C$5.75 and gave the company an “outperform” rating in a report on Thursday, March 5th. TD Securities increased their target price on Baytex Energy from C$5.00 to C$5.50 and gave the company a “hold” rating in a report on Thursday, March 5th. Finally, Scotiabank upped their price objective on Baytex Energy from C$5.25 to C$5.50 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$5.32.

Baytex Energy Stock Up 0.9%

The company has a current ratio of 3.61, a quick ratio of 0.77 and a debt-to-equity ratio of 4.94. The business has a 50-day moving average price of C$4.96 and a 200-day moving average price of C$4.20. The firm has a market cap of C$4.18 billion, a P/E ratio of -7.26, a P/E/G ratio of 0.12 and a beta of 0.94.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its earnings results on Wednesday, March 4th. The company reported C($1.11) earnings per share (EPS) for the quarter. Baytex Energy had a negative net margin of 40.77% and a negative return on equity of 16.25%. On average, equities analysts forecast that Baytex Energy Corp. will post 0.3703367 EPS for the current fiscal year.

Baytex Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, April 1st will be issued a $0.0225 dividend. This represents a $0.09 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, March 13th. Baytex Energy’s dividend payout ratio (DPR) is currently -11.54%.

Insider Activity at Baytex Energy

In related news, Director Mark Bly acquired 20,000 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The stock was acquired at an average price of C$4.50 per share, for a total transaction of C$90,000.00. Following the purchase, the director owned 575,638 shares of the company’s stock, valued at C$2,590,371. This represents a 3.60% increase in their position. Also, insider Chad Lundberg bought 11,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 30th. The stock was acquired at an average cost of C$4.36 per share, for a total transaction of C$50,140.00. Following the acquisition, the insider directly owned 532,801 shares of the company’s stock, valued at C$2,323,012.36. The trade was a 2.21% increase in their ownership of the stock. Corporate insiders own 0.83% of the company’s stock.

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.