Insider Buying: Baytex Energy Corp. (TSE:BTE) Senior Officer Buys 5,200 Shares of Stock

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) Senior Officer Nicole Marie Frechette purchased 5,200 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price of C$2.90 per share, with a total value of C$15,080.00.

Baytex Energy Price Performance

Baytex Energy stock traded up C$0.11 during midday trading on Wednesday, reaching C$3.04. The company’s stock had a trading volume of 2,181,115 shares, compared to its average volume of 4,396,424. The company has a current ratio of 0.69, a quick ratio of 0.77 and a debt-to-equity ratio of 57.38. The stock has a market cap of C$2.40 billion, a PE ratio of -6.92, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. Baytex Energy Corp. has a 52 week low of C$2.74 and a 52 week high of C$5.55. The business has a 50-day moving average price of C$3.52 and a 200-day moving average price of C$3.92.

Baytex Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st will be issued a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Friday, March 14th. Baytex Energy’s dividend payout ratio (DPR) is presently -20.48%.

Wall Street Analysts Forecast Growth

BTE has been the topic of a number of recent research reports. Atb Cap Markets lowered Baytex Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 30th. ATB Capital decreased their price target on Baytex Energy from C$5.50 to C$5.20 in a research report on Wednesday, December 4th. CIBC dropped their price target on Baytex Energy from C$6.00 to C$5.00 in a research note on Friday, January 17th. BMO Capital Markets reduced their price objective on shares of Baytex Energy from C$5.00 to C$4.00 in a research note on Wednesday, March 5th. Finally, TD Securities dropped their target price on shares of Baytex Energy from C$5.50 to C$5.00 in a research report on Wednesday, March 5th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$5.59.

Baytex Energy Company Profile

Baytex Energy Corp., an energy company, engages in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas.