Chad Lundberg Buys 11,000 Shares of Baytex Energy (TSE:BTE) Stock

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) insider Chad Lundberg acquired 11,000 shares of the firm’s stock in a transaction that occurred on Monday, March 30th. The shares were bought at an average price of C$6.15 per share, with a total value of C$67,650.00. Following the acquisition, the insider directly owned 613,401 shares of the company’s stock, valued at C$3,772,416.15. The trade was a 1.83% increase in their position.

Chad Lundberg also recently made the following trade(s):

• On Monday, March 30th, Chad Lundberg acquired 5,300 shares of Baytex Energy stock. The stock was bought at an average cost of C$6.16 per share, for a total transaction of C$32,648.00.
• On Tuesday, December 30th, Chad Lundberg bought 11,500 shares of Baytex Energy stock. The stock was bought at an average price of C$4.36 per share, for a total transaction of C$50,140.00.

Baytex Energy Stock Performance

Shares of Baytex Energy stock traded up C$0.04 on Monday, reaching C$6.04. 8,580,585 shares of the company traded hands, compared to its average volume of 7,493,073. The company has a 50 day moving average of C$5.12 and a 200 day moving average of C$4.34. The company has a debt-to-equity ratio of 4.94, a current ratio of 3.61 and a quick ratio of 0.77. Baytex Energy Corp. has a 52 week low of C$1.91 and a 52 week high of C$6.21. The firm has a market capitalization of C$4.46 billion, a PE ratio of -7.74, a PEG ratio of 0.12 and a beta of 0.94.

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

Baytex Energy Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently weighed in on BTE. TD Securities lifted their target price on shares of 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. Royal Bank Of Canada downgraded shares of Baytex Energy from an “outperform” rating to a “sector perform” rating in a report on Tuesday, January 13th. Scotiabank boosted their target price on shares of Baytex Energy from C$5.25 to C$5.50 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Raymond James Financial upgraded Baytex Energy from a “market perform” rating to an “outperform” rating and increased their target price for the stock from C$5.50 to C$7.00 in a research report on Monday. Finally, National Bank Financial raised their price target on Baytex Energy from C$5.00 to C$5.75 and gave the stock 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 data from MarketBeat.com, the company currently has a consensus 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.