Baytex Energy Corp. (TSE:BTE – Get Free Report) (NYSE:BTE) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$4.79 and traded as high as C$6.97. Baytex Energy shares last traded at C$6.95, with a volume of 4,898,235 shares changing hands.
Analysts Set New Price Targets
BTE has been the subject of several recent analyst reports. Raymond James Financial raised Baytex Energy from a “hold” rating to a “moderate buy” rating and raised their target price for the stock from C$5.50 to C$7.00 in a research note on Monday, March 30th. Scotiabank upped their price target on Baytex Energy from C$5.25 to C$5.50 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Canaccord Genuity Group upgraded Baytex Energy from a “hold” rating to a “buy” rating and increased their price target for the stock from C$5.25 to C$7.00 in a report on Tuesday, April 14th. Royal Bank Of Canada raised their price objective on Baytex Energy from C$5.00 to C$6.50 and gave the stock a “sector perform” rating in a research report on Wednesday, April 8th. Finally, TD Securities boosted their price objective 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 research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Baytex Energy currently has a consensus rating of “Moderate Buy” and an average target price of C$6.18.
Check Out Our Latest Stock Analysis on BTE
Baytex Energy Price Performance
Baytex Energy (TSE:BTE – Get Free Report) (NYSE:BTE) last announced 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%. On average, equities analysts predict that Baytex Energy Corp. will post 0.3703367 earnings per share for the current year.
Baytex Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, April 1st were issued a $0.0225 dividend. This represents a $0.09 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Friday, March 13th. Baytex Energy’s payout ratio is currently -11.54%.
Insider Transactions at Baytex Energy
In other news, insider James Robert Maclean bought 10,000 shares of the stock in a transaction that occurred on Friday, March 20th. The stock was bought at an average cost of C$5.73 per share, for a total transaction of C$57,300.00. Following the acquisition, the insider directly owned 185,322 shares of the company’s stock, valued at C$1,061,895.06. The trade was a 5.70% increase in their position. Also, insider Chadwick Kalmakoff bought 15,000 shares of the company’s stock in a transaction on Friday, March 20th. The stock was purchased at an average cost of C$5.73 per share, with a total value of C$85,950.00. Following the completion of the transaction, the insider owned 382,331 shares in the company, valued at C$2,190,756.63. This represents a 4.08% increase in their ownership of the stock. Insiders bought a total of 49,800 shares of company stock worth $293,188 in the last 90 days. Insiders own 0.83% of the company’s stock.
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.
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