Baytex Energy (TSE:BTE) Shares Pass Below 200 Day Moving Average of $5.64

Shares of Baytex Energy Corp. (TSE:BTE – Get Rating) (NYSE:BTE) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$5.64 and traded as low as C$4.45. Baytex Energy shares last traded at C$4.50, with a volume of 3,342,533 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. National Bankshares increased their target price on shares of Baytex Energy from C$7.75 to C$8.50 and gave the company a “sector perform” rating in a research note on Wednesday, March 1st. National Bank Financial raised their price target on shares of Baytex Energy from C$7.75 to C$8.50 in a report on Wednesday, March 1st. ATB Capital upgraded shares of Baytex Energy from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, March 1st. Raymond James lowered shares of Baytex Energy from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from C$8.00 to C$5.50 in a research report on Thursday, March 2nd. Finally, Stifel Nicolaus cut their target price on shares of Baytex Energy from C$7.00 to C$6.25 in a report on Monday, May 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Baytex Energy has an average rating of “Moderate Buy” and an average price target of C$7.53.

Baytex Energy Price Performance

The stock’s 50-day simple moving average is C$4.90 and its 200 day simple moving average is C$5.64. The company has a quick ratio of 0.77, a current ratio of 0.90 and a debt-to-equity ratio of 31.23. The company has a market cap of C$2.45 billion, a price-to-earnings ratio of 2.90, a PEG ratio of 0.12 and a beta of 2.87.

Baytex Energy (TSE:BTE – Get Rating) (NYSE:BTE) last released its earnings results on Thursday, February 23rd. The company reported C$0.26 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.17 by C$0.09. The firm had revenue of C$648.99 million for the quarter. Baytex Energy had a net margin of 38.01% and a return on equity of 31.92%. On average, equities research analysts anticipate that Baytex Energy Corp. will post 0.8462929 EPS for the current fiscal year.

Insider Activity at Baytex Energy

In other news, Senior Officer Kendall Douglas Arthur acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The stock was acquired at an average cost of C$5.50 per share, with a total value of C$55,023.00. 1.17% of the stock is currently owned by corporate insiders.

About Baytex Energy

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Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Texas, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas. Its principal oil and natural gas properties comprise the Eagle Ford property in Texas, Viking and Lloydminster properties in Alberta and Saskatchewan, Peace River and Duvernay properties in Alberta.