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

Shares of Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$3.00 and traded as low as C$2.47. Baytex Energy shares last traded at C$2.49, with a volume of 7,640,867 shares changing hands.

Wall Street Analyst Weigh In

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

Baytex Energy Stock Performance

The firm has a fifty day simple moving average of C$2.42 and a 200-day simple moving average of C$2.97. The company has a current ratio of 0.69, a quick ratio of 0.77 and a debt-to-equity ratio of 57.38. The stock has a market cap of C$1.99 billion, a price-to-earnings ratio of -5.74, a P/E/G ratio of 0.12 and a beta of 2.61.

Baytex Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, July 2nd will be issued a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a yield of 3.57%. The ex-dividend date is Friday, June 13th. Baytex Energy's dividend payout ratio is -20.48%.

Insider Activity

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

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.