Baytex Energy (TSE:BTE) Shares Cross Below 200-Day Moving Average - Here's Why

Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE's stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$3.04 and traded as low as C$2.72. Baytex Energy shares last traded at C$2.73, with a volume of 6,195,947 shares.

Analysts Set New Price Targets

BTE has been the subject of a number of research reports. BMO Capital Markets dropped their price objective on shares of Baytex Energy from C$5.00 to C$4.00 in a report on Wednesday, March 5th. Scotiabank raised shares of Baytex Energy to a "hold" rating in a research note on Wednesday, March 19th. CIBC cut their price target on shares of Baytex Energy from C$5.00 to C$4.25 in a report on Thursday, April 10th. National Bankshares decreased their price objective 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 lowered their target price on Baytex Energy from C$4.00 to C$3.50 and set a "market perform" rating for the company in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Baytex Energy presently has a consensus rating of "Hold" and a consensus price target of C$4.68.

Baytex Energy Stock Performance

The stock's 50 day moving average price is C$2.39 and its 200 day moving average price is C$3.03. The company has a debt-to-equity ratio of 57.38, a quick ratio of 0.77 and a current ratio of 0.69. The company has a market capitalization of C$2.24 billion, a P/E ratio of -6.46, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61.

Baytex Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Wednesday, July 2nd will be issued a $0.0225 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.09 annualized dividend and a yield of 3.17%. Baytex Energy's payout ratio is -20.48%.

Insider Buying and Selling at Baytex Energy

In other Baytex Energy news, Senior Officer James Robert Maclean purchased 43,000 shares of the business'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. 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.