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

Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE passed 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 traded.

Analysts Set New Price Targets

BTE has been the topic of a number of analyst reports. TD Securities cut their target price on Baytex Energy from C$4.75 to C$4.50 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Scotiabank upgraded Baytex Energy to a "hold" rating in a report on Wednesday, March 19th. CIBC lowered their target price on Baytex Energy from C$5.00 to C$4.25 in a report on Thursday, April 10th. National Bankshares lowered their target price on Baytex Energy from C$5.50 to C$5.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Finally, Raymond James Financial decreased their price objective on Baytex Energy from C$4.00 to C$3.50 and set a "market perform" rating for the company in a report 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's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of C$4.68.

Baytex Energy Price Performance

The firm has a 50-day simple moving average of C$2.48 and a two-hundred day simple moving average of C$2.91. The company has a market capitalization of C$2.05 billion, a price-to-earnings ratio of -5.89, a P/E/G ratio of 0.12 and a beta of 2.61. The company has a current ratio of 0.69, a quick ratio of 0.77 and a debt-to-equity ratio of 57.38.

Baytex Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Wednesday, July 2nd were paid a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a dividend yield of 3.47%. The ex-dividend date was Friday, June 13th. Baytex Energy's payout ratio is currently -20.48%.

Insiders Place Their Bets

In other Baytex Energy news, Senior Officer James Robert Maclean bought 43,000 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were acquired at an average cost of C$2.33 per share, with a total value of C$100,190.00. Corporate insiders own 0.83% of the company's stock.

About Baytex Energy

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.