Baytex Energy (NYSE:BTE) Stock Passes Above 200-Day Moving Average – Should You Sell?

Baytex Energy Corp (NYSE:BTE) (TSE:BTE) shares crossed 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 trading hands.

Analysts Set New Price Targets

Several research firms have recently issued reports on BTE. Royal Bank Of Canada reissued a “sector perform” rating on shares of Baytex Energy in a research note on Monday, May 11th. Raymond James Financial raised Baytex Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 30th. Wall Street Zen raised Baytex Energy from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Scotiabank reissued an “outperform” rating on shares of Baytex Energy in a research note on Tuesday, April 21st. Finally, TD Securities reissued a “hold” rating on shares of Baytex Energy in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Baytex Energy Stock Up 0.1%

The company has a quick ratio of 2.12, a current ratio of 2.15 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $3.77 billion, a P/E ratio of -7.36 and a beta of 0.39. The company has a 50-day moving average of $4.55 and a two-hundred day moving average of $3.76.

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

Baytex Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 15th will be paid a dividend of $0.0225 per share. The ex-dividend date is Monday, June 15th. This represents a $0.09 dividend on an annualized basis and a yield of 1.7%. Baytex Energy’s payout ratio is presently -10.00%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BTE. Goldman Sachs Group Inc. raised its stake in Baytex Energy by 110.6% during the first quarter. Goldman Sachs Group Inc. now owns 7,127,074 shares of the oil and gas producer’s stock valued at $15,893,000 after buying an additional 3,743,234 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Baytex Energy by 446.3% in the first quarter. Jane Street Group LLC now owns 2,646,885 shares of the oil and gas producer’s stock worth $5,903,000 after purchasing an additional 2,162,346 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Baytex Energy by 19.0% in the second quarter. Geode Capital Management LLC now owns 1,802,016 shares of the oil and gas producer’s stock worth $3,226,000 after purchasing an additional 287,454 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Baytex Energy by 10.7% in the second quarter. Russell Investments Group Ltd. now owns 144,757 shares of the oil and gas producer’s stock worth $261,000 after purchasing an additional 14,050 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Baytex Energy by 18.4% in the second quarter. Invesco Ltd. now owns 465,450 shares of the oil and gas producer’s stock worth $833,000 after purchasing an additional 72,431 shares during the last quarter. Hedge funds and other institutional investors own 46.15% of the company’s stock.

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.