Baytex Energy (TSE:BTE) Director Sells C$531,560.00 in Stock

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) Director Stephen David Lile Reynish sold 77,600 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of C$6.85, for a total value of C$531,560.00. Following the sale, the director directly owned 15,400 shares in the company, valued at C$105,490. This trade represents a 83.44% decrease in their position.

Baytex Energy Stock Performance

BTE opened at C$7.03 on Friday. Baytex Energy Corp. has a 1-year low of C$2.32 and a 1-year high of C$7.37. The stock has a market cap of C$5.09 billion, a P/E ratio of -7.32, a P/E/G ratio of 0.12 and a beta of 0.58. The stock’s 50 day simple moving average is C$6.44 and its 200 day simple moving average is C$5.35. The company has a debt-to-equity ratio of 6.84, a current ratio of 2.15 and a quick ratio of 0.77.

Baytex Energy (TSE:BTE) (NYSE:BTE) last issued its quarterly earnings data on Thursday, May 7th. The company reported C($0.09) earnings per share (EPS) for the quarter. The firm had revenue of C$401.37 million for the quarter. Baytex Energy had a negative return on equity of 23.15% and a negative net margin of 83.88%. As a group, equities analysts anticipate that Baytex Energy Corp. will post 0.3703367 EPS for the current fiscal year.

Baytex Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Thursday, July 2nd will be paid a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, June 15th. Baytex Energy’s payout ratio is -7.03%.

Wall Street Analyst Weigh In

BTE has been the topic of a number of research reports. Royal Bank Of Canada increased their price objective on shares of Baytex Energy from C$6.50 to C$7.00 and gave the company a “sector perform” rating in a research note on Monday, May 11th. Scotia lifted their target price on shares of Baytex Energy from C$6.50 to C$7.50 and gave the stock a “sector outperform” rating in a research report on Friday, May 8th. TD Securities increased their price target on shares of Baytex Energy from C$5.00 to C$5.50 and gave the company a “hold” rating in a research report on Thursday, March 5th. ATB Cormark Capital Markets raised their price objective on shares of Baytex Energy from C$7.00 to C$8.50 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Finally, National Bank Financial lifted their price objective on Baytex Energy from C$7.50 to C$8.50 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$7.00.

Baytex Energy Company Profile

Baytex Energy Corp. is a Calgary -based energy company committed to driving shareholder value through disciplined execution. It operates a high-quality, high-return portfolio in the Western Canadian Sedimentary Basin, featuring the Pembina Duvernay and heavy oil plays in Alberta and Saskatchewan. These core assets are backed by an extensive drilling inventory and consistently generate strong cash flow.