Insider Buying: Baytex Energy Corp. (TSE:BTE) Senior Officer Buys 20,000 Shares of Stock

Baytex Energy Corp. (TSE:BTE – Get Rating) (NYSE:BTE) Senior Officer Rodney Gray acquired 20,000 shares of the stock in a transaction that occurred on Thursday, June 23rd. The shares were bought at an average price of C$5.69 per share, with a total value of C$113,700.00. Following the completion of the transaction, the insider now owns 934,024 shares in the company, valued at C$5,309,926.44.

Shares of TSE:BTE traded down C$0.75 during trading on Thursday, reaching C$5.55. The stock had a trading volume of 14,981,335 shares, compared to its average volume of 7,451,768. The firm’s fifty day moving average is C$6.94 and its 200 day moving average is C$5.57. The company has a debt-to-equity ratio of 57.82, a quick ratio of 0.52 and a current ratio of 0.53. Baytex Energy Corp. has a 52 week low of C$1.75 and a 52 week high of C$9.16. The stock has a market cap of C$3.16 billion and a price-to-earnings ratio of 1.92.

Baytex Energy (TSE:BTE – Get Rating) (NYSE:BTE) last posted its quarterly earnings data on Thursday, April 28th. The company reported C$0.10 EPS 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. On average, research analysts forecast that Baytex Energy Corp. will post 1.106815 earnings per share for the current fiscal year.

A number of equities analysts recently issued reports on BTE shares. TD Securities upped their price objective on shares of Baytex Energy from C$6.50 to C$7.50 and gave the stock a “hold” rating in a research report on Friday, April 29th. Scotiabank upped their price objective on shares of Baytex Energy from C$6.75 to C$9.00 in a research report on Wednesday, June 8th. Standpoint Research restated a “buy” rating and issued a C$8.25 price target (up from C$7.00) on shares of Baytex Energy in a research report on Monday, May 2nd. Raymond James set a C$9.00 price target on shares of Baytex Energy and gave the company an “outperform” rating in a research report on Monday, May 2nd. Finally, CIBC upped their price target on shares of Baytex Energy from C$7.00 to C$8.00 in a research report on Thursday, April 14th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Baytex Energy has a consensus rating of “Moderate Buy” and a consensus target price of C$7.94.

About Baytex Energy (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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