Baytex Energy (TSE:BTE) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Baytex Energy shares crossed above their 200-day moving average, reaching C$6.81 before closing at C$6.73 on volume of roughly 5.3 million shares.
• Analysts raised their price targets, with the consensus rating at “Moderate Buy” and an average target of C$7.05; several firms set targets as high as C$8.50.
• The company reported C$0.24 in quarterly EPS on C$564.88 million in revenue and maintains a quarterly dividend of C$0.0225, equivalent to a 1.3% annual yield.

Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE's share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$6.03 and traded as high as C$6.81. Baytex Energy shares last traded at C$6.73, with a volume of 5,333,301 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BTE shares. ATB Cormark Capital Markets raised their target price on shares of Baytex Energy from C$7.00 to C$8.50 and gave the company a "sector perform" rating in a research note on Friday, May 8th. Royal Bank Of Canada upped their price target on shares of Baytex Energy from C$6.50 to C$7.00 and gave the stock a "sector perform" rating in a research report on Monday, May 11th. TD increased their price target on Baytex Energy from C$6.00 to C$6.50 and gave the company a "hold" rating in a report on Monday, May 11th. National Bank Financial raised their price objective on Baytex Energy from C$7.50 to C$8.50 and gave the company a "sector perform" rating in a research report on Friday, May 8th. Finally, Raymond James Financial raised their price objective on Baytex Energy from C$8.00 to C$8.50 and gave the company a "strong-buy" rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, Baytex Energy presently has a consensus rating of "Moderate Buy" and an average price target of C$7.05.

Baytex Energy Stock Performance

The company has a debt-to-equity ratio of 6.94, a quick ratio of 0.77 and a current ratio of 2.82. The stock has a fifty day simple moving average of C$6.02 and a two-hundred day simple moving average of C$6.03. The stock has a market cap of C$4.71 billion, a PE ratio of -7.32, a PEG ratio of 0.12 and a beta of 0.37.

Baytex Energy (TSE:BTE - Get Free Report) NYSE: BTE last posted its earnings results on Thursday, July 30th. The company reported C$0.24 EPS for the quarter. The business had revenue of C$564.88 million for the quarter. Baytex Energy had a negative net margin of 131.38% and a negative return on equity of 26.41%. Equities analysts anticipate that Baytex Energy Corp. will post 0.3703367 EPS for the current fiscal year.

Baytex Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, July 2nd were issued a $0.0225 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.09 dividend on an annualized basis and a yield of 1.3%. Baytex Energy's 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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