Chadwick Kalmakoff Acquires 15,000 Shares of Baytex Energy (TSE:BTE) Stock

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) insider Chadwick Kalmakoff bought 15,000 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The shares were purchased at an average cost of C$5.73 per share, with a total value of C$85,950.00. Following the purchase, the insider directly owned 382,331 shares of the company’s stock, valued at approximately C$2,190,756.63. This represents a 4.08% increase in their ownership of the stock.

Baytex Energy Price Performance

TSE:BTE opened at C$5.92 on Monday. The company has a quick ratio of 0.77, a current ratio of 3.61 and a debt-to-equity ratio of 4.94. The business’s 50-day moving average price is C$5.26 and its 200 day moving average price is C$4.43. Baytex Energy Corp. has a 52-week low of C$1.91 and a 52-week high of C$6.35. The firm has a market cap of C$4.37 billion, a P/E ratio of -7.59, a PEG ratio of 0.12 and a beta of 0.42.

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

Baytex Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, April 1st were paid a dividend of $0.0225 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.09 annualized dividend and a yield of 1.5%. Baytex Energy’s dividend payout ratio is currently -11.54%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BTE shares. Raymond James Financial upgraded shares of Baytex Energy from a “hold” rating to a “moderate buy” rating and lifted their price target for the stock from C$5.50 to C$7.00 in a research report on Monday, March 30th. TD Securities raised their price objective on Baytex Energy from C$5.00 to C$5.50 and gave the stock a “hold” rating in a research note on Thursday, March 5th. Canaccord Genuity Group lowered Baytex Energy from a “buy” rating to a “hold” rating and cut their target price for the stock from C$5.00 to C$4.75 in a research report on Tuesday, January 27th. Scotiabank boosted their target price on Baytex Energy from C$5.25 to C$5.50 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Finally, National Bank Financial upped their target price on Baytex Energy from C$5.00 to C$5.75 and gave the company an “outperform” rating in a report on Thursday, March 5th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$5.54.

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.