Baytex Energy Corp. (TSE:BTE) Senior Officer Nicole Marie Frechette Buys 5,200 Shares

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

Baytex Energy Stock Performance

TSE:BTE traded up C$0.11 during mid-day trading on Wednesday, hitting C$3.04. 2,181,115 shares of the stock were exchanged, compared to its average volume of 4,396,424. The firm’s 50-day simple moving average is C$3.52 and its 200 day simple moving average is C$3.92. The stock has a market capitalization of C$2.40 billion, a price-to-earnings ratio of -6.92, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. Baytex Energy Corp. has a fifty-two week low of C$2.74 and a fifty-two week high of C$5.55. The company has a debt-to-equity ratio of 57.38, a quick ratio of 0.77 and a current ratio of 0.69.

Baytex Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, March 14th. Baytex Energy’s dividend payout ratio is currently -20.48%.

Analyst Ratings Changes

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

About Baytex Energy

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.