Insider Buying: Baytex Energy (TSE:BTE) Director Purchases C$90,000.00 in Stock

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) Director Mark Bly purchased 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The shares were purchased at an average price of C$4.50 per share, for a total transaction of C$90,000.00. Following the completion of the acquisition, the director owned 575,638 shares of the company’s stock, valued at C$2,590,371. The trade was a 3.60% increase in their position.

Baytex Energy Stock Performance

TSE:BTE opened at C$4.35 on Tuesday. Baytex Energy Corp. has a 52 week low of C$1.91 and a 52 week high of C$4.65. The firm has a 50-day moving average price of C$4.04 and a two-hundred day moving average price of C$3.35. The company has a debt-to-equity ratio of 57.38, a quick ratio of 0.77 and a current ratio of 0.69. The firm has a market cap of C$3.34 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 0.12 and a beta of 0.97.

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

Baytex Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, January 2nd will be paid a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Monday, December 15th. Baytex Energy’s dividend payout ratio is 32.14%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BTE. Scotiabank raised shares of Baytex Energy from a “hold” rating to an “outperform” rating and boosted their price target for the stock from C$4.00 to C$5.25 in a report on Thursday, November 13th. National Bankshares lowered their price objective on shares of Baytex Energy from C$4.75 to C$4.50 and set an “outperform” rating on the stock in a research report on Wednesday, October 22nd. Raymond James Financial raised shares of Baytex Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 13th. BMO Capital Markets upgraded shares of Baytex Energy from a “hold” rating to an “outperform” rating and raised their price target for the stock from C$3.00 to C$6.00 in a research note on Thursday, November 13th. Finally, Capital One Financial raised shares of Baytex Energy to a “hold” rating in a report on Monday, October 27th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.