Nicole Marie Frechette Acquires 5,200 Shares of Baytex Energy Corp. (TSE:BTE) Stock

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) Senior Officer Nicole Marie Frechette bought 5,200 shares of Baytex Energy stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of C$2.90 per share, with a total value of C$15,080.00.

Baytex Energy Price Performance

TSE:BTE opened at C$2.98 on Friday. Baytex Energy Corp. has a 52 week low of C$2.74 and a 52 week high of C$5.55. The firm has a market cap of C$2.35 billion, a price-to-earnings ratio of -6.78, a P/E/G ratio of 0.12 and a beta of 2.61. The firm’s 50-day simple moving average is C$3.49 and its 200 day simple moving average is C$3.90. 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st will be given a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Friday, March 14th. Baytex Energy’s dividend payout ratio is -20.48%.

Wall Street Analyst Weigh In

BTE has been the subject of a number of recent analyst reports. Royal Bank of Canada cut their price target on shares of Baytex Energy from C$5.50 to C$5.00 in a research note on Tuesday, January 14th. TD Securities cut their price target on shares of Baytex Energy from C$5.50 to C$5.00 in a research note on Wednesday, March 5th. CIBC cut their price target on shares of Baytex Energy from C$6.00 to C$5.00 in a research note on Friday, January 17th. BMO Capital Markets cut their price target on shares of Baytex Energy from C$5.00 to C$4.00 in a research note on Wednesday, March 5th. Finally, ATB Capital cut their price target on shares of Baytex Energy from C$5.50 to C$5.20 in a research note on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.