Baytex Energy (TSE:BTE) Director Stephen David Lile Reynish Sells 77,600 Shares of Stock

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) Director Stephen David Lile Reynish sold 77,600 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of C$6.85, for a total transaction of C$531,560.00. Following the transaction, the director owned 15,400 shares of the company’s stock, valued at C$105,490. This trade represents a 83.44% decrease in their ownership of the stock.

Baytex Energy Stock Performance

TSE:BTE opened at C$6.90 on Wednesday. The company has a current ratio of 2.15, a quick ratio of 0.77 and a debt-to-equity ratio of 6.84. The firm has a 50-day moving average price of C$6.36 and a two-hundred day moving average price of C$5.29. Baytex Energy Corp. has a twelve month low of C$2.27 and a twelve month high of C$7.37. The company has a market capitalization of C$4.99 billion, a P/E ratio of -7.19, a price-to-earnings-growth ratio of 0.12 and a beta of 0.58.

Baytex Energy (TSE:BTE) (NYSE:BTE) last posted its earnings results on Thursday, May 7th. The company reported C($0.09) earnings per share for the quarter. Baytex Energy had a negative net margin of 83.88% and a negative return on equity of 23.15%. The business had revenue of C$401.37 million for the quarter. As a group, research analysts expect that Baytex Energy Corp. will post 0.3703367 earnings per share for the current fiscal year.

Baytex Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Thursday, July 2nd will be issued a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a yield of 1.3%. The ex-dividend date is Monday, June 15th. Baytex Energy’s dividend payout ratio (DPR) is -7.03%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Raymond James Financial raised their target price on shares of Baytex Energy from C$7.00 to C$8.00 and gave the company an “outperform” rating in a report on Friday, May 8th. National Bank Financial lifted their price target on shares of Baytex Energy from C$7.50 to C$8.50 and gave the stock a “sector perform” rating in a report on Friday, May 8th. TD lifted their price target on shares of Baytex Energy from C$6.00 to C$6.50 and gave the stock a “hold” rating in a report on Monday, May 11th. Royal Bank Of Canada lifted their price target on shares of Baytex Energy from C$6.50 to C$7.00 and gave the stock a “sector perform” rating in a report on Monday, May 11th. Finally, Canaccord Genuity Group upgraded shares of Baytex Energy from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$5.25 to C$7.00 in a report on Tuesday, April 14th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$7.00.

About Baytex Energy

Baytex Energy Corp. is a Calgary -based energy company committed to driving shareholder value through disciplined execution. It operates a high-quality, high-return portfolio in the Western Canadian Sedimentary Basin, featuring the Pembina Duvernay and heavy oil plays in Alberta and Saskatchewan. These core assets are backed by an extensive drilling inventory and consistently generate strong cash flow.