Key Points
- Insider purchase: Baytex insider Chad Lundberg bought 11,500 shares at C$4.36 on Dec. 30 (C$50,140), raising his holdings to 532,801 shares — a 2.21% increase.
- Dividend declared: The company set a quarterly dividend of $0.0225 per share (annualized $0.09, ~2.0% yield) with an ex-dividend date of Dec. 15 and record/payment date of Jan. 2.
- Analyst sentiment: Baytex holds a consensus "Moderate Buy" rating with an average price target of C$4.79 and several recent upgrades raising targets (e.g., TD C$5.00, BMO C$6.00).
Baytex Energy Corp. (TSE:BTE - Get Free Report) (NYSE:BTE) insider Chad Lundberg bought 11,500 shares of the business's stock in a transaction dated Tuesday, December 30th. The shares were acquired at an average cost of C$4.36 per share, with a total value of C$50,140.00. Following the completion of the purchase, the insider owned 532,801 shares in the company, valued at approximately C$2,323,012.36. This represents a 2.21% increase in their position.
Baytex Energy Trading Down 0.2%
Shares of BTE stock opened at C$4.44 on Thursday. The business's fifty day moving average price is C$4.10 and its 200 day moving average price is C$3.37. The firm has a market capitalization of C$3.41 billion, a PE ratio of 15.86, a P/E/G ratio of 0.12 and a beta of 0.97. The company has a debt-to-equity ratio of 57.38, a current ratio of 0.69 and a quick ratio of 0.77. Baytex Energy Corp. has a 1-year low of C$1.91 and a 1-year high of C$4.65.
Baytex Energy (TSE:BTE - Get Free Report) (NYSE:BTE) last posted its quarterly earnings results on Thursday, October 30th. The company reported C$0.04 earnings per share for the quarter. Baytex Energy had a negative net margin of 10.45% and a negative return on equity of 8.96%. The business had revenue of C$746.42 million for the quarter. As a group, sell-side analysts forecast 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 Friday, January 2nd. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.0225 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.09 annualized dividend and a dividend yield of 2.0%. Baytex Energy's payout ratio is 32.14%.
Analysts Set New Price Targets
BTE has been the subject of several research reports. National Bankshares reduced their price objective on Baytex Energy from C$4.75 to C$4.50 and set an "outperform" rating for the company in a report on Wednesday, October 22nd. Raymond James Financial upgraded Baytex Energy from a "hold" rating to a "moderate buy" rating in a research report on Thursday, November 13th. Capital One Financial upgraded shares of Baytex Energy to a "hold" rating in a research report on Monday, October 27th. TD Securities raised their target price on shares of Baytex Energy from C$4.75 to C$5.00 and gave the company a "buy" rating in a report on Tuesday, December 23rd. Finally, BMO Capital Markets raised shares of Baytex Energy from a "hold" rating to an "outperform" rating and upped their price target for the company from C$3.00 to C$6.00 in a report on Thursday, November 13th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of C$4.79.
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About Baytex Energy
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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.
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