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

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) shares passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of C$6.24 and traded as high as C$6.51. Baytex Energy shares last traded at C$6.43, with a volume of 5,967,574 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial increased their price target on Baytex Energy from C$8.00 to C$8.50 and gave the stock a “strong-buy” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$7.05.

Baytex Energy Trading Down 0.6%

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 business’s fifty day moving average is C$6.42 and its 200-day moving average is C$6.24. The stock has a market capitalization of C$4.50 billion, a PE ratio of -6.99, a P/E/G ratio of 0.12 and a beta of 0.39.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its quarterly earnings results 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 for the quarter. Baytex Energy had a negative net margin of 131.38% and a negative return on equity of 26.41%. As a group, analysts anticipate that Baytex Energy Corp. will post 0.3703367 EPS for the current fiscal year.

Baytex Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.0225 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.09 annualized dividend and a yield of 1.4%. 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.