Baytex Energy (TSE:BTE) Shares Pass Below 200-Day Moving Average - Here's What Happened

Shares of Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$2.92 and traded as low as C$2.55. Baytex Energy shares last traded at C$2.62, with a volume of 3,976,649 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. CIBC reduced their price objective on shares of Baytex Energy from C$5.00 to C$4.25 in a research note on Thursday, April 10th. Scotiabank upgraded shares of Baytex Energy to a "hold" rating in a research note on Wednesday, March 19th. National Bankshares reduced their price objective on shares of Baytex Energy from C$5.50 to C$5.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Raymond James Financial reduced their price objective on shares of Baytex Energy from C$4.00 to C$3.50 and set a "market perform" rating for the company in a research note on Tuesday, May 6th. Finally, TD Securities reduced their price objective on shares of Baytex Energy from C$4.75 to C$4.50 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of C$4.68.

Baytex Energy Trading Down 0.4%

The company has a debt-to-equity ratio of 57.38, a current ratio of 0.69 and a quick ratio of 0.77. The firm has a market cap of C$2.07 billion, a price-to-earnings ratio of -5.96, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. The firm's fifty day moving average is C$2.47 and its 200-day moving average is C$2.92.

Baytex Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Wednesday, July 2nd were given a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend was Friday, June 13th. Baytex Energy's payout ratio is -20.48%.

Insiders Place Their Bets

In related news, Senior Officer James Robert Maclean bought 43,000 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were purchased at an average cost of C$2.33 per share, for a total transaction of C$100,190.00. 0.83% of the stock is currently owned by insiders.

Baytex Energy Company Profile

Baytex Energy Corp., an energy company, engages in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.