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

Key Points

• Baytex Energy shares broke above their 200-day moving average, reaching C$7.72 before closing at C$7.45, compared with the 200-day average of C$6.41.
• Analysts remain generally positive, with an overall “Moderate Buy” rating and recent price-target increases to C$8.50 and C$9.50, although the consensus target is C$7.15.
• The company reported C$0.24 in quarterly EPS on C$564.88 million in revenue and declared a quarterly dividend of C$0.0225, equivalent to a 1.2% annual yield; however, it continues to show negative net margin and return on equity.

Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE shares passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$6.41 and traded as high as C$7.72. Baytex Energy shares last traded at C$7.45, with a volume of 4,408,283 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BTE shares. Raymond James Financial raised their price objective on shares of Baytex Energy from C$8.00 to C$8.50 and gave the stock a "strong-buy" rating in a report on Friday, July 31st. National Bank Financial lifted their target price on Baytex Energy from C$8.50 to C$9.50 and gave the stock an "outperform" rating in a research report on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Baytex Energy currently has an average rating of "Moderate Buy" and an average price target of C$7.15.

Baytex Energy Price Performance

The business has a 50-day simple moving average of C$6.78 and a two-hundred day simple moving average of C$6.41. The company has a quick ratio of 0.77, a current ratio of 2.82 and a debt-to-equity ratio of 6.94. The stock has a market capitalization of C$5.21 billion, a price-to-earnings ratio of -8.10, a P/E/G ratio of 0.12 and a beta of 0.60.

Baytex Energy (TSE:BTE - Get Free Report) NYSE: BTE last posted its quarterly earnings data on Thursday, July 30th. The company reported C$0.24 earnings per share for the quarter. The company had revenue of C$564.88 million during the quarter. Baytex Energy had a negative net margin of 131.38% and a negative return on equity of 26.41%. As a group, research analysts predict that Baytex Energy Corp. will post 0.37 earnings per share for the current fiscal year.

Baytex Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, October 1st were given a $0.0225 dividend. This represents a $0.09 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 15th. Baytex Energy's dividend payout ratio (DPR) is currently -7.34%.

Baytex Energy Company Profile

Baytex Energy Corp. is a Calgary -based energy company committed to driving shareholder value through disciplined execution. It operates a high-quality, high-return portfolio in the Western Canadian Sedimentary Basin, featuring the Pembina Duvernay and heavy oil plays in Alberta and Saskatchewan. These core assets are backed by an extensive drilling inventory and consistently generate strong cash flow.

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