Baytex Energy (NYSE:BTE) Stock Crosses Below Fifty Day Moving Average – Should You Sell?

Baytex Energy Corp (NYSE:BTE) (TSE:BTE)’s stock price passed below its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $4.93 and traded as low as $4.78. Baytex Energy shares last traded at $4.7850, with a volume of 20,851,907 shares.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BTE. Scotiabank restated an “outperform” rating on shares of Baytex Energy in a research report on Monday, October 19th. Zacks Research upgraded shares of Baytex Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Jefferies Financial Group began coverage on Baytex Energy in a research note on Tuesday, October 27th. They issued a “buy” rating on the stock. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Baytex Energy in a research report on Friday, October 9th. Finally, TD Securities restated a “hold” rating on shares of Baytex Energy in a research report on Monday, August 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Baytex Energy Price Performance

The company has a quick ratio of 2.79, a current ratio of 2.82 and a debt-to-equity ratio of 0.06. The business’s 50-day simple moving average is $4.93 and its 200 day simple moving average is $4.40. The firm has a market capitalization of $3.30 billion, a P/E ratio of -7.14 and a beta of 0.40.

Institutional Investors Weigh In On Baytex Energy

A number of institutional investors have recently made changes to their positions in BTE. Capula Management Ltd purchased a new position in Baytex Energy in the 1st quarter worth $57,000. Commerce Bank purchased a new stake in Baytex Energy during the second quarter valued at about $60,000. Bank of New York Mellon Corp purchased a new stake in Baytex Energy during the second quarter valued at about $60,000. Cetera Investment Advisers grew its stake in shares of Baytex Energy by 31.5% during the first quarter. Cetera Investment Advisers now owns 21,120 shares of the oil and gas producer’s stock valued at $94,000 after buying an additional 5,060 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Baytex Energy during the second quarter valued at about $121,000. Hedge funds and other institutional investors own 46.15% of the company’s stock.

About Baytex Energy

Baytex Energy Corp. is a Canadian oil and natural gas exploration and production company headquartered in Calgary, Alberta. The company develops and produces crude oil, condensate, natural gas liquids and natural gas.

Baytex’s operations are focused on the Western Canadian Sedimentary Basin in Alberta and Saskatchewan and the Eagle Ford shale in South Texas. Its portfolio includes light oil, heavy oil and natural gas assets, with production sold into North American energy markets.

Founded in 1993, Baytex became a publicly traded corporation in 2010 after operating as an income trust.