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

Key Points

• Baytex Energy's share price crossed above its two-hundred-day moving average, reaching a high of C$3.09 before last trading at C$3.05.
• Analysts have adjusted their price targets for Baytex Energy, with Raymond James lowering it from C$4.00 to C$3.50 and TD Securities from C$4.75 to C$4.50, while maintaining a mixed consensus rating of "Hold."
• The company announced a quarterly dividend of $0.0225, yielding 3.0%, with a payout ratio currently at 19.15%.

Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$2.70 and traded as high as C$3.09. Baytex Energy shares last traded at C$3.05, with a volume of 3,791,537 shares changing hands.

Baytex Energy Stock Down 2.9%

The company has a quick ratio of 0.77, a current ratio of 0.69 and a debt-to-equity ratio of 57.38. The business has a fifty day simple moving average of C$2.80 and a two-hundred day simple moving average of C$2.69. The company has a market capitalization of C$2.33 billion, a price-to-earnings ratio of 6.45, a P/E/G ratio of 0.12 and a beta of 1.02.

Baytex Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Monday, September 15th. Baytex Energy's payout ratio is presently 19.15%.

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.