Baytex Energy (TSE:BTE) Shares Cross Above 200 Day Moving Average - Should You Sell?

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.

Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE passed above its 200-day moving average during trading on Tuesday . The stock has a 200-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.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. National Bankshares dropped their target price 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. Raymond James Financial lowered their price target 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 report on Tuesday, May 6th. Finally, TD Securities lowered their price target on shares of Baytex Energy from C$4.75 to C$4.50 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of C$4.68.

Baytex Energy Stock Performance

The stock has a market cap of C$2.23 billion, a price-to-earnings ratio of -6.44, a PEG ratio of 0.12 and a beta of 2.61. The company has a quick ratio of 0.77, a current ratio of 0.69 and a debt-to-equity ratio of 57.38. The stock's fifty day moving average is C$2.68 and its 200-day moving average is C$2.79.

Baytex Energy Dividend Announcement

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

Insider Buying and Selling at Baytex Energy

In related news, Senior Officer James Robert Maclean purchased 43,000 shares of Baytex Energy stock in a transaction dated Tuesday, May 20th. The stock was bought at an average price of C$2.33 per share, for a total transaction of C$100,190.00. 0.83% of the stock is owned by company 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.