Royal Bank of Canada Cuts Baytex Energy (TSE:BTE) Price Target to C$6.50

Baytex Energy (TSE:BTEGet Free Report) (NYSE:BTE) had its price target lowered by investment analysts at Royal Bank of Canada from C$7.00 to C$6.50 in a research note issued on Monday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 36.84% from the company’s current price.

Several other brokerages also recently commented on BTE. Stifel Nicolaus lifted their target price on shares of Baytex Energy from C$6.25 to C$7.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. BMO Capital Markets set a C$6.00 target price on shares of Baytex Energy and gave the stock a “market perform” rating in a research report on Tuesday, April 9th. CIBC increased their target price on shares of Baytex Energy from C$6.00 to C$6.50 and gave the company a “neutral” rating in a research note on Monday, April 22nd. TD Securities boosted their price target on Baytex Energy from C$5.50 to C$6.00 in a research note on Friday. Finally, Raymond James reduced their target price on Baytex Energy from C$6.75 to C$5.00 and set a “market perform” rating for the company in a research report on Friday, January 19th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Baytex Energy currently has an average rating of “Moderate Buy” and an average price target of C$6.48.

Read Our Latest Analysis on Baytex Energy

Baytex Energy Stock Up 0.6 %

TSE:BTE traded up C$0.03 during trading hours on Monday, reaching C$4.75. The company’s stock had a trading volume of 4,860,977 shares, compared to its average volume of 4,609,755. Baytex Energy has a one year low of C$3.83 and a one year high of C$6.37. The business’s 50-day moving average is C$4.90 and its 200-day moving average is C$4.77. The company has a debt-to-equity ratio of 63.22, a current ratio of 0.67 and a quick ratio of 0.77. The company has a market cap of C$3.90 billion, a price-to-earnings ratio of -10.61, a price-to-earnings-growth ratio of 0.12 and a beta of 2.78.

Baytex Energy (TSE:BTEGet Free Report) (NYSE:BTE) last issued its quarterly earnings data on Wednesday, February 28th. The company reported C$0.25 EPS for the quarter, beating analysts’ consensus estimates of C$0.13 by C$0.12. Baytex Energy had a negative return on equity of 8.56% and a negative net margin of 9.88%. The business had revenue of C$1.07 billion for the quarter. Equities research analysts predict that Baytex Energy will post 0.6404342 EPS for the current year.

Insider Buying and Selling

In other news, Senior Officer Eric Thomas Greager bought 20,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was purchased at an average price of C$4.25 per share, with a total value of C$85,000.00. 0.78% of the stock is owned by insiders.

About Baytex Energy

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Baytex Energy (TSE:BTE)

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