Baytex Energy (NYSE:BTE) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• Baytex Energy’s stock crossed above its 200-day moving average, trading as high as $4.27 and last changing hands at $4.1350. This suggests a modest technical improvement in the share price trend.
• Analyst sentiment remains cautious, with the consensus rating at “Hold” after mixed opinions from firms including RBC, Scotiabank, TD Securities, and Zacks Research. The stock has one Strong Buy, three Buy, six Hold, and one Sell rating.
• Recent earnings were mixed: Baytex reported a loss of $0.08 per share, missing expectations, but revenue of $325.64 million topped estimates. The company also pays a quarterly dividend yielding about 2.2%.

Baytex Energy Corp (NYSE:BTE - Get Free Report) TSE: BTE's stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.10 and traded as high as $4.27. Baytex Energy shares last traded at $4.1350, with a volume of 20,400,956 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BTE shares. Zacks Research raised shares of Baytex Energy from a "strong sell" rating to a "hold" rating in a research report on Friday, April 3rd. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Baytex Energy in a research report on Monday, May 11th. Scotiabank reiterated an "outperform" rating on shares of Baytex Energy in a research report on Tuesday, April 21st. TD Securities reissued a "hold" rating on shares of Baytex Energy in a research note on Monday, May 11th. Finally, Weiss Ratings lowered shares of Baytex Energy from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold".

Baytex Energy Stock Performance

The company has a 50 day moving average of $4.54 and a two-hundred day moving average of $4.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.15 and a quick ratio of 2.12. The company has a market capitalization of $2.95 billion, a PE ratio of -5.91 and a beta of 0.40.

Baytex Energy (NYSE:BTE - Get Free Report) TSE: BTE last announced its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported ($0.08) EPS 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 analysts' expectations of $228.04 million. As a group, equities research analysts predict that Baytex Energy Corp will post 0.22 earnings per share for the current year.

Baytex Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Monday, June 15th were paid a $0.0225 dividend. This represents a $0.09 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Monday, June 15th. Baytex Energy's dividend payout ratio (DPR) is presently -10.00%.

Institutional Investors Weigh In On Baytex Energy

Several hedge funds have recently bought and sold shares of BTE. Vanguard Group Inc. increased its stake in shares of Baytex Energy by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 29,449,680 shares of the oil and gas producer's stock valued at $95,270,000 after purchasing an additional 374,972 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Baytex Energy by 816.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 22,003,118 shares of the oil and gas producer's stock worth $98,381,000 after buying an additional 19,601,808 shares during the last quarter. Encompass Capital Advisors LLC grew its stake in shares of Baytex Energy by 43.9% in the 1st quarter. Encompass Capital Advisors LLC now owns 20,071,614 shares of the oil and gas producer's stock worth $89,695,000 after buying an additional 6,123,098 shares during the last quarter. Alliancebernstein L.P. increased its position in Baytex Energy by 7.4% during the 2nd quarter. Alliancebernstein L.P. now owns 10,710,876 shares of the oil and gas producer's stock valued at $19,172,000 after buying an additional 738,337 shares in the last quarter. Finally, TD Asset Management Inc increased its position in Baytex Energy by 176.3% during the 4th quarter. TD Asset Management Inc now owns 10,287,145 shares of the oil and gas producer's stock valued at $33,321,000 after buying an additional 6,564,105 shares in the last quarter. Institutional investors own 46.15% of the company's stock.

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.

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