Baytex Energy Corp. (TSE:BTE) Senior Officer Buys C$113,700.00 in Stock

Baytex Energy Corp. (TSE:BTE – Get Rating) (NYSE:BTE) Senior Officer Rodney Gray purchased 20,000 shares of the firm’s stock in a transaction dated Thursday, June 23rd. The shares were bought at an average cost of C$5.69 per share, for a total transaction of C$113,700.00. Following the completion of the purchase, the insider now directly owns 934,024 shares of the company’s stock, valued at C$5,309,926.44.

Shares of TSE BTE traded down C$0.75 during midday trading on Thursday, reaching C$5.55. 14,981,335 shares of the stock were exchanged, compared to its average volume of 7,451,768. The business has a 50-day simple moving average of C$6.94 and a two-hundred day simple moving average of C$5.57. The company has a market capitalization of C$3.16 billion and a price-to-earnings ratio of 1.92. Baytex Energy Corp. has a 12 month low of C$1.75 and a 12 month high of C$9.16. The company has a debt-to-equity ratio of 57.82, a current ratio of 0.53 and a quick ratio of 0.52.

Baytex Energy (TSE:BTE – Get Rating) (NYSE:BTE) last announced its quarterly earnings results on Thursday, April 28th. The company reported C$0.10 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.19 by C($0.09). The firm had revenue of C$673.83 million for the quarter. Equities research analysts expect that Baytex Energy Corp. will post 1.106815 earnings per share for the current fiscal year.

A number of brokerages have issued reports on BTE. Royal Bank of Canada raised their price objective on shares of Baytex Energy from C$6.00 to C$7.00 and gave the company a “sector perform” rating in a research note on Monday, May 2nd. TD Securities raised their price objective on shares of Baytex Energy from C$6.50 to C$7.50 and gave the company a “hold” rating in a research note on Friday, April 29th. BMO Capital Markets raised their price objective on shares of Baytex Energy from C$8.00 to C$8.50 in a research note on Friday, April 29th. Raymond James set a C$9.00 price objective on shares of Baytex Energy and gave the company an “outperform” rating in a research note on Monday, May 2nd. Finally, Standpoint Research reaffirmed a “buy” rating and issued a C$8.25 price objective (up from C$7.00) on shares of Baytex Energy in a research note on Monday, May 2nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Baytex Energy presently has an average rating of “Moderate Buy” and an average target price of C$7.94.

Baytex Energy Company Profile (Get Rating)

Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Texas, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas. Its principal oil and natural gas properties comprise the Eagle Ford property in Texas, Viking and Lloydminster properties in Alberta and Saskatchewan, Peace River and Duvernay properties in Alberta.

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