Royal Bank of Canada Cuts Baytex Energy (TSE:BTE) Price Target to C$5.50

Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price reduced by equities researchers at Royal Bank of Canada from C$6.50 to C$5.50 in a research report issued on Tuesday, BayStreet.CA reports. Royal Bank of Canada’s price target would suggest a potential upside of 30.33% from the company’s previous close.

Separately, Canaccord Genuity Group upped their price target on shares of Baytex Energy from C$6.25 to C$6.50 in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$6.25.

Baytex Energy Trading Up 0.7 %

Shares of BTE traded up C$0.03 on Tuesday, hitting C$4.22. 2,745,537 shares of the stock traded hands, compared to its average volume of 4,597,874. The company has a quick ratio of 0.77, a current ratio of 0.72 and a debt-to-equity ratio of 62.33. The firm has a market capitalization of C$3.40 billion, a P/E ratio of -6.12, a P/E/G ratio of 0.12 and a beta of 2.65. The stock’s 50 day moving average is C$4.75 and its two-hundred day moving average is C$4.78. Baytex Energy has a 1 year low of C$3.92 and a 1 year high of C$6.37.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its quarterly earnings data on Thursday, July 25th. The company reported C$0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.16 by C($0.03). The firm had revenue of C$1.13 billion for the quarter, compared to analysts’ expectations of C$1.04 billion. Baytex Energy had a negative net margin of 11.92% and a negative return on equity of 9.55%. As a group, sell-side analysts predict that Baytex Energy will post 0.6550633 earnings per share for the current year.

Insider Transactions at Baytex Energy

In other Baytex Energy news, Senior Officer Chadwick Kalmakoff acquired 12,000 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was bought at an average price of C$4.18 per share, with a total value of C$50,160.00. Company insiders own 0.82% of the company’s stock.

Baytex Energy Company Profile

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.