Baytex Energy (TSE:BTE) Shares Cross Below 50 Day Moving Average - Here's Why

Key Points

• Baytex Energy shares fell below their 50-day moving average, trading as low as C$6.69 versus the C$6.92 average, with approximately 6.9 million shares changing hands.
• Analysts remain broadly positive: the stock has a “Moderate Buy” consensus rating, with recent target-price increases ranging from C$8.50 to C$9.50 and an average target of C$7.32.
• Baytex paid a quarterly dividend of $0.0225 per share, equivalent to $0.09 annually and a 1.3% yield.

Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE crossed below its 50-day moving average during trading on Monday. The stock has a 50-day moving average of C$6.92 and traded as low as C$6.69. Baytex Energy shares last traded at C$6.69, with a volume of 6,897,162 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BTE shares. Raymond James Financial boosted their target price on Baytex Energy from C$8.00 to C$8.50 and gave the stock a "strong-buy" rating in a research report on Friday, July 31st. National Bank Financial raised their target price on shares of Baytex Energy from C$8.50 to C$9.50 and gave the company an "outperform" rating in a research note on Wednesday, September 30th. Finally, Jefferies Financial Group began coverage on Baytex Energy in a research report on Tuesday, October 27th. They set a "buy" rating and a C$9.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of C$7.32.

Baytex Energy Stock Performance

The stock has a market capitalization of C$4.68 billion, a price-to-earnings ratio of -7.27, a price-to-earnings-growth ratio of 0.12 and a beta of 0.60. The company has a current ratio of 2.82, a quick ratio of 0.77 and a debt-to-equity ratio of 6.94. The stock's 50 day moving average is C$6.92 and its two-hundred day moving average is C$6.11.

Baytex Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, October 1st were given a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, September 15th. Baytex Energy's dividend payout ratio is currently -7.34%.

About Baytex Energy

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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