Baytex Energy (TSE:BTE) Price Target Raised to C$7.00

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective upped by Stifel Nicolaus from C$6.25 to C$7.00 in a research report issued on Tuesday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 35.40% from the company’s previous close.

Several other equities research analysts have also recently issued reports on BTE. Royal Bank of Canada decreased their target price on shares of Baytex Energy from C$8.00 to C$7.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. ATB Capital decreased their price objective on shares of Baytex Energy from C$6.50 to C$6.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. Raymond James decreased their price objective on shares of Baytex Energy from C$6.75 to C$5.00 and set a “market perform” rating for the company in a research note on Friday, January 19th. TD Securities decreased their target price on shares of Baytex Energy from C$6.50 to C$6.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Finally, National Bankshares decreased their target price on shares of Baytex Energy from C$8.25 to C$7.25 and set an “outperform” rating for the company in a research note on Wednesday, January 10th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$6.53.

Baytex Energy Price Performance

TSE:BTE traded up C$0.16 during mid-day trading on Tuesday, hitting C$5.17. 4,506,487 shares of the company’s stock traded hands, compared to its average volume of 4,337,617. The company has a debt-to-equity ratio of 63.80, a quick ratio of 0.77 and a current ratio of 0.79. The firm’s 50 day simple moving average is C$4.73 and its 200 day simple moving average is C$4.85. Baytex Energy has a 1 year low of C$3.83 and a 1 year high of C$6.37. The company has a market cap of C$4.25 billion, a PE ratio of -15.64, a price-to-earnings-growth ratio of 0.12 and a beta of 2.78.

Baytex Energy (TSE:BTE) (NYSE:BTE) last posted its earnings results on Wednesday, February 28th. The company reported C$0.25 earnings per share for the quarter, beating the consensus estimate of C$0.13 by C$0.12. Baytex Energy had a negative net margin of 8.60% and a negative return on equity of 6.81%. The firm had revenue of C$1.07 billion during the quarter. Sell-side analysts expect that Baytex Energy will post 0.7398601 EPS for the current year.

Insider Activity at Baytex Energy

In other news, Director Tiffany Thom Cepak sold 40,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of C$3.55, for a total transaction of C$142,000.00. In other news, Director Tiffany Thom Cepak sold 40,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of C$3.55, for a total transaction of C$142,000.00. Also, Senior Officer Eric Thomas Greager bought 20,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were bought at an average price of C$4.25 per share, with a total value of C$85,000.00. 0.73% of the stock is currently owned by company insiders.

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.