Baytex Energy (TSE:BTE) Stock Crosses Above 200-Day Moving Average – What’s Next?

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$5.47 and traded as high as C$5.98. Baytex Energy shares last traded at C$5.75, with a volume of 4,753,946 shares traded.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BTE. TD Securities upped their price target on Baytex Energy from C$5.00 to C$5.50 and gave the stock a “hold” rating in a research note on Thursday, March 5th. Scotia boosted their target price on Baytex Energy from C$6.50 to C$7.50 and gave the stock a “sector outperform” rating in a report on Friday, May 8th. Royal Bank Of Canada increased their target price 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. ATB Cormark Capital Markets raised their price target on Baytex Energy from C$7.00 to C$8.50 and gave the company a “sector perform” rating in a report on Friday, May 8th. Finally, TD increased their price objective on shares of Baytex Energy from C$6.00 to C$6.50 and gave the company a “hold” rating in a research report on Monday, May 11th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Baytex Energy currently has an average rating of “Hold” and a consensus price target of C$7.00.

Baytex Energy Trading Up 2.3%

The firm has a market capitalization of C$4.15 billion, a PE ratio of -5.97, a P/E/G ratio of 0.12 and a beta of 0.34. The firm has a 50 day simple moving average of C$6.50 and a 200 day simple moving average of C$5.48. The company has a current ratio of 2.15, a quick ratio of 0.77 and a debt-to-equity ratio of 6.84.

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

Baytex Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Thursday, July 2nd will be given 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 1.6%. Baytex Energy’s dividend payout ratio is -7.03%.

Insider Buying and Selling

In other news, insider Nicole Marie Frechette purchased 8,500 shares of the stock in a transaction dated Thursday, April 2nd. The shares were purchased at an average cost of C$5.84 per share, with a total value of C$49,640.00. Following the acquisition, the insider directly owned 73,026 shares of the company’s stock, valued at C$426,471.84. This represents a 13.17% increase in their ownership of the stock. Also, Director Stephen David Lile Reynish sold 77,600 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of C$6.85, for a total value of C$531,560.00. Following the completion of the transaction, the director owned 15,400 shares in the company, valued at approximately C$105,490. This trade represents a 83.44% decrease in their ownership of the stock. Over the last quarter, insiders have purchased 24,800 shares of company stock worth $149,938. 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.