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

Key Points

• Baytex Energy Corp. stock has recently crossed above its 200-day moving average, trading at C$2.95 after reaching a high of C$2.97 during the session.
• Several analysts have adjusted their price targets for Baytex Energy, with the average target now set at C$4.68 and a general rating of "Hold".
• The company announced a quarterly dividend of $0.0225, yielding approximately 3.1%, with a negative dividend payout ratio of -20.48% currently in effect.

Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE's stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$2.73 and traded as high as C$2.97. Baytex Energy shares last traded at C$2.95, with a volume of 6,858,625 shares.

Analyst Ratings Changes

A number of research firms have commented on BTE. TD Securities reduced their target price on Baytex Energy from C$4.75 to C$4.50 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Raymond James Financial reduced their target price on Baytex Energy from C$4.00 to C$3.50 and set a "market perform" rating on the stock in a report on Tuesday, May 6th. Finally, National Bankshares reduced their target price on Baytex Energy from C$5.50 to C$5.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of C$4.68.

Baytex Energy Trading Up 2.4%

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$2.37 billion, a price-to-earnings ratio of -6.83, a PEG ratio of 0.12 and a beta of 2.61. The firm has a 50-day moving average of C$2.73 and a 200 day moving average of C$2.72.

Baytex Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Wednesday, July 2nd were paid a dividend of $0.0225 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.09 annualized dividend and a dividend yield of 3.0%. Baytex Energy's dividend payout ratio (DPR) is currently -20.48%.

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.