Baytex Energy (TSE:BTE) Downgraded to “Hold” Rating by Canaccord Genuity Group

Baytex Energy (TSE:BTE) (NYSE:BTE) was downgraded by equities research analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research note issued on Tuesday,BayStreet.CA reports. They currently have a C$4.75 price target on the stock, down from their prior price target of C$5.00. Canaccord Genuity Group’s target price would suggest a potential upside of 2.59% from the company’s current price.

BTE has been the subject of several other reports. Capital One Financial upgraded Baytex Energy to a “hold” rating in a report on Monday, October 27th. National Bankshares cut their target price on shares of Baytex Energy from C$4.75 to C$4.50 and set an “outperform” rating on the stock in a research report on Wednesday, October 22nd. Royal Bank Of Canada lowered shares of Baytex Energy from an “outperform” rating to a “sector perform” rating in a report on Tuesday, January 13th. BMO Capital Markets raised shares of Baytex Energy from a “hold” rating to an “outperform” rating and boosted their price objective for the stock from C$3.00 to C$6.00 in a research note on Thursday, November 13th. Finally, Scotiabank lifted their price target on Baytex Energy from C$5.25 to C$5.50 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$4.79.

Baytex Energy Trading Up 1.1%

BTE traded up C$0.05 on Tuesday, reaching C$4.63. 3,792,773 shares of the company traded hands, compared to its average volume of 7,161,509. The company has a market cap of C$3.56 billion, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 0.12 and a beta of 0.92. The company has a quick ratio of 0.77, a current ratio of 0.69 and a debt-to-equity ratio of 57.38. Baytex Energy has a one year low of C$1.91 and a one year high of C$4.85. The firm has a fifty day simple moving average of C$4.45 and a two-hundred day simple moving average of C$3.62.

Baytex Energy (TSE:BTE) (NYSE:BTE) last issued its earnings results on Thursday, October 30th. The company reported C$0.04 EPS for the quarter. The business had revenue of C$746.42 million for the quarter. Baytex Energy had a negative net margin of 10.45% and a negative return on equity of 8.96%. As a group, equities research analysts expect that Baytex Energy will post 0.3703367 earnings per share for the current year.

Insider Activity at Baytex Energy

In related news, insider Chad Lundberg bought 11,500 shares of the company’s stock in a transaction on Tuesday, December 30th. The shares were bought at an average price of C$4.36 per share, with a total value of C$50,140.00. Following the transaction, the insider owned 532,801 shares in the company, valued at approximately C$2,323,012.36. This trade represents a 2.21% increase in their ownership of the stock. Also, Director Mark Bly purchased 20,000 shares of the business’s stock in a transaction on Wednesday, December 24th. The shares were bought at an average price of C$4.50 per share, for a total transaction of C$90,000.00. Following the purchase, the director directly owned 575,638 shares in the company, valued at C$2,590,371. This represents a 3.60% increase in their position. Company insiders own 0.83% of the company’s stock.

About Baytex Energy

Baytex Energy Corp is an oil and gas company. Geographically, the group operates in Canada and the United States. The company derives a majority of revenue from Canada. Its Canada segment includes the exploration, development, and production of crude oil and natural gas in Western Canada.