Baytex Energy (TSE:BTE) Stock Crosses Above 200 Day Moving Average - Time to Sell?

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 passed 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 changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. National Bankshares decreased their target price on shares of 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 cut their target price on shares of Baytex Energy from C$4.00 to C$3.50 and set a "market perform" rating on the stock in a research note on Tuesday, May 6th. Finally, TD Securities cut their target price on shares of Baytex Energy from C$4.75 to C$4.50 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Baytex Energy currently has an average rating of "Hold" and an average target price of C$4.68.

Baytex Energy Price Performance

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 firm's fifty day simple moving average is C$2.74 and its 200-day simple moving average is C$2.72. The firm has a market capitalization of C$2.38 billion, a PE ratio of -6.85, a PEG ratio of 0.12 and a beta of 2.61.

Baytex Energy Dividend Announcement

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

About Baytex Energy

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.