Baytex Energy (TSE:BTE) Insider Buys C$50,140.00 in Stock

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) insider Chad Lundberg purchased 11,500 shares of Baytex Energy stock in a transaction dated Tuesday, December 30th. The stock was bought at an average price of C$4.36 per share, with a total value of C$50,140.00. Following the completion of the purchase, the insider directly owned 532,801 shares of the company’s stock, valued at approximately C$2,323,012.36. This trade represents a 2.21% increase in their ownership of the stock.

Baytex Energy Stock Performance

Baytex Energy stock traded down C$0.02 during midday trading on Wednesday, reaching C$4.43. 1,553,673 shares of the company traded hands, compared to its average volume of 5,462,332. Baytex Energy Corp. has a 12 month low of C$1.91 and a 12 month high of C$4.65. The company has a debt-to-equity ratio of 57.38, a current ratio of 0.69 and a quick ratio of 0.77. The business has a 50 day moving average of C$4.07 and a two-hundred day moving average of C$3.36. The firm has a market capitalization of C$3.40 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 0.12 and a beta of 0.97.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its earnings results on Thursday, October 30th. The company reported C$0.04 earnings per share for the quarter. The business had revenue of C$746.42 million during the quarter. Baytex Energy had a negative net margin of 10.45% and a negative return on equity of 8.96%. As a group, research analysts predict that Baytex Energy Corp. will post 0.3703367 earnings per share for the current year.

Baytex Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, January 2nd will be given a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, December 15th. Baytex Energy’s dividend payout ratio is 32.14%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BTE. TD Securities boosted their price target on Baytex Energy from C$4.75 to C$5.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Scotiabank upgraded shares of Baytex Energy from a “hold” rating to an “outperform” rating and increased their price objective for the stock from C$4.00 to C$5.25 in a research note on Thursday, November 13th. National Bankshares cut their target price on shares of Baytex Energy from C$4.75 to C$4.50 and set an “outperform” rating for the company in a research report on Wednesday, October 22nd. BMO Capital Markets raised shares of Baytex Energy from a “hold” rating to an “outperform” rating and upped their target price for the company from C$3.00 to C$6.00 in a report on Thursday, November 13th. Finally, Capital One Financial upgraded shares of Baytex Energy to a “hold” rating in a research report on Monday, October 27th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$4.79.

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.