Baytex Energy (TSE:BTE) Share Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Baytex Energy shares recently surpassed their 200-day moving average, reaching a peak of C$2.94 and closing at C$2.93.
• Analysts have lowered their price targets for Baytex Energy, with average targets now around C$4.68 and a consensus rating of "Hold."
• The company declared a quarterly dividend of $0.0225 per share, translating to an annual yield of 3.1% despite a negative payout ratio.

Shares of Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$2.80 and traded as high as C$2.94. Baytex Energy shares last traded at C$2.93, with a volume of 5,872,114 shares.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. 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. 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. Finally, 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. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Baytex Energy presently has a consensus rating of "Hold" and a consensus target price of C$4.68.

Baytex Energy Stock Performance

The company's fifty day simple moving average is C$2.68 and its 200 day simple moving average is C$2.78. 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 capitalization of C$2.23 billion, a P/E ratio of -6.44, a P/E/G ratio of 0.12 and a beta of 2.61.

Baytex Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Wednesday, July 2nd were issued a $0.0225 dividend. This represents a $0.09 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, June 13th. Baytex Energy's dividend payout ratio (DPR) is presently -20.48%.

Insider Buying and Selling

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

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.