Key Points
- Baytex Energy director Stephen David Lile Reynish sold 77,600 shares on June 2 at an average price of C$6.85, totaling about C$531,560. After the sale, he held 15,400 shares, marking an 83.44% reduction in his ownership.
- The company recently reported weak quarterly results, posting EPS of C($0.09) and a negative net margin of 83.88%, even though revenue came in at C$401.37 million. Analysts still expect Baytex to earn 0.3703367 EPS for the current year.
- Baytex announced a quarterly dividend of C$0.0225 per share, payable July 2, which works out to an annualized yield of 1.3%. Meanwhile, analysts' consensus view remains Hold with a target price of C$7.00.
Baytex Energy Corp. (TSE:BTE - Get Free Report) (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 shares were sold at an average price of C$6.85, for a total transaction of C$531,560.00. Following the completion of the sale, the director owned 15,400 shares of the company's stock, valued at approximately C$105,490. The trade was a 83.44% decrease in their ownership of the stock.
Baytex Energy Price Performance
Baytex Energy stock opened at C$6.90 on Wednesday. Baytex Energy Corp. has a 1 year low of C$2.27 and a 1 year high of C$7.37. The firm has a 50 day moving average price of C$6.36 and a 200 day moving average price of C$5.29. The company has a market cap of C$4.99 billion, a price-to-earnings ratio of -7.19, a PEG ratio of 0.12 and a beta of 0.58. The company has a debt-to-equity ratio of 6.84, a quick ratio of 0.77 and a current ratio of 2.15.
Baytex Energy (TSE:BTE - Get Free Report) (NYSE:BTE) last released its earnings results on Thursday, May 7th. The company reported C($0.09) earnings per share (EPS) for the quarter. Baytex Energy had a negative net margin of 83.88% and a negative return on equity of 23.15%. The company had revenue of C$401.37 million during the quarter. Sell-side analysts predict that Baytex Energy Corp. will post 0.3703367 earnings per share for the current year.
Baytex Energy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Thursday, July 2nd will be issued a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, June 15th. Baytex Energy's payout ratio is presently -7.03%.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on BTE shares. Canaccord Genuity Group upgraded shares of Baytex Energy from a "hold" rating to a "buy" rating and boosted their target price for the company from C$5.25 to C$7.00 in a report on Tuesday, April 14th. Scotia boosted their target price on shares of Baytex Energy from C$6.50 to C$7.50 and gave the company a "sector outperform" rating in a report on Friday, May 8th. ATB Cormark Capital Markets boosted their target price on shares of Baytex Energy from C$7.00 to C$8.50 and gave the company a "sector perform" rating in a report on Friday, May 8th. National Bank Financial boosted their target price on shares of Baytex Energy from C$7.50 to C$8.50 and gave the company a "sector perform" rating in a report on Friday, May 8th. Finally, TD Securities boosted their target price on shares of Baytex Energy from C$5.00 to C$5.50 and gave the company a "hold" rating in a report on Thursday, March 5th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of C$7.00.
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Baytex Energy Company Profile
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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.
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