Baytex Energy (TSE:BTE) Stock Price Passes Above 200-Day Moving Average - Here's What Happened

Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE's stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$4.79 and traded as high as C$6.97. Baytex Energy shares last traded at C$6.95, with a volume of 4,898,235 shares traded.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BTE shares. National Bank Financial increased their price objective on Baytex Energy from C$5.00 to C$5.75 and gave the company an "outperform" rating in a research note on Thursday, March 5th. TD Securities lifted their target price on shares of Baytex Energy from C$5.00 to C$5.50 and gave the stock a "hold" rating in a research note on Thursday, March 5th. Canaccord Genuity Group raised shares of Baytex Energy from a "hold" rating to a "buy" rating and upped their target price for the stock from C$5.25 to C$7.00 in a report on Tuesday, April 14th. Raymond James Financial upgraded shares of Baytex Energy from a "hold" rating to a "moderate buy" rating and increased their target price for the company from C$5.50 to C$7.00 in a research report on Monday, March 30th. Finally, Royal Bank Of Canada raised their price target on shares of Baytex Energy from C$5.00 to C$6.50 and gave the stock a "sector perform" rating in a research note on Wednesday, April 8th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Baytex Energy currently has an average rating of "Moderate Buy" and an average price target of C$6.18.

Baytex Energy Stock Performance

The company has a debt-to-equity ratio of 4.94, a current ratio of 3.61 and a quick ratio of 0.77. The stock has a market cap of C$5.13 billion, a price-to-earnings ratio of -8.91, a PEG ratio of 0.12 and a beta of 0.42. The firm has a fifty day moving average of C$5.76 and a 200 day moving average of C$4.79.

Baytex Energy (TSE:BTE - Get Free Report) NYSE: BTE last released its quarterly earnings data on Wednesday, March 4th. The company reported C($1.11) earnings per share for the quarter. Baytex Energy had a negative return on equity of 16.25% and a negative net margin of 40.77%. As a group, sell-side analysts forecast that Baytex Energy Corp. will post 0.3703367 EPS for the current year.

Baytex Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Wednesday, April 1st were given a dividend of $0.0225 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.09 annualized dividend and a dividend yield of 1.3%. Baytex Energy's payout ratio is presently -11.54%.

Insider Activity

In other news, insider Nicole Marie Frechette bought 8,500 shares of Baytex Energy stock in a transaction on Thursday, April 2nd. The shares were bought at an average cost of C$5.84 per share, with a total value of C$49,640.00. Following the completion of the purchase, the insider directly owned 73,026 shares of the company's stock, valued at approximately C$426,471.84. This trade represents a 13.17% increase in their ownership of the stock. Also, insider Chad Lundberg bought 11,000 shares of the firm's stock in a transaction on Monday, March 30th. The stock was purchased at an average price of C$6.15 per share, for a total transaction of C$67,650.00. Following the completion of the acquisition, the insider directly owned 613,401 shares in the company, valued at C$3,772,416.15. The trade was a 1.83% increase in their ownership of the stock. Over the last three months, insiders bought 49,800 shares of company stock worth $293,188. Company insiders own 0.83% of the company's stock.

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.

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