Baytex Energy (TSE:BTE) Insider Acquires C$49,640.00 in Stock

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) insider Nicole Marie Frechette bought 8,500 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was purchased at an average cost of C$5.84 per share, with a total value of C$49,640.00. Following the acquisition, the insider directly owned 73,026 shares in the company, valued at C$426,471.84. This trade represents a 13.17% increase in their position.

Baytex Energy Trading Down 7.6%

Shares of Baytex Energy stock opened at C$5.75 on Thursday. The company has a market capitalization of C$4.25 billion, a P/E ratio of -7.37, a P/E/G ratio of 0.12 and a beta of 0.42. The company has a debt-to-equity ratio of 4.94, a quick ratio of 0.77 and a current ratio of 3.61. The company has a fifty day moving average of C$5.34 and a 200 day moving average of C$4.48. Baytex Energy Corp. has a fifty-two week low of C$1.91 and a fifty-two week high of C$6.35.

Baytex Energy (TSE:BTE) (NYSE:BTE) last issued its earnings results on Wednesday, March 4th. The company reported C($1.11) earnings per share for the quarter. Baytex Energy had a negative return on equity of 16.25% and a negative net margin of 40.77%. On average, sell-side analysts anticipate that Baytex Energy Corp. will post 0.3703367 earnings per share for the current fiscal year.

Baytex Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, April 1st were issued a $0.0225 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.09 annualized dividend and a yield of 1.6%. Baytex Energy’s dividend payout ratio is currently -11.54%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Raymond James Financial raised shares of Baytex Energy from a “hold” rating to a “moderate buy” rating and increased their price objective for the company from C$5.50 to C$7.00 in a report on Monday, March 30th. Scotiabank increased their price objective on shares of Baytex Energy from C$5.25 to C$5.50 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Canaccord Genuity Group downgraded shares of Baytex Energy from a “buy” rating to a “hold” rating and dropped their price objective for the company from C$5.00 to C$4.75 in a report on Tuesday, January 27th. Royal Bank Of Canada increased their price objective on shares of Baytex Energy from C$5.00 to C$6.50 and gave the company a “sector perform” rating in a report on Wednesday. Finally, TD Securities increased their price objective on shares of Baytex Energy from C$5.00 to C$5.50 and gave the company a “hold” rating in a report on Thursday, March 5th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Baytex Energy has a consensus rating of “Moderate Buy” and an average target price of C$5.66.

Baytex Energy Company Profile

Baytex Energy Corp is an oil and gas company. Geographically, the group operates in Canada and the United States. The company derives a majority of revenue from Canada. Its Canada segment includes the exploration, development, and production of crude oil and natural gas in Western Canada.