TD Securities Lowers Baytex Energy (TSE:BTE) Price Target to C$5.50

Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price reduced by equities research analysts at TD Securities from C$6.00 to C$5.50 in a report issued on Tuesday, BayStreet.CA reports. TD Securities’ price target would indicate a potential upside of 29.72% from the company’s current price.

Several other equities analysts have also issued reports on BTE. National Bankshares decreased their target price on Baytex Energy from C$8.00 to C$7.50 in a research note on Friday, September 27th. Canaccord Genuity Group increased their price target on shares of Baytex Energy from C$6.25 to C$6.50 in a research report on Friday, July 26th. Finally, Royal Bank of Canada dropped their price objective on shares of Baytex Energy from C$6.50 to C$5.50 in a report on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$6.23.

Baytex Energy Price Performance

Baytex Energy stock opened at C$4.24 on Tuesday. The company’s 50 day simple moving average is C$4.56 and its 200-day simple moving average is C$4.76. The company has a debt-to-equity ratio of 62.33, a quick ratio of 0.77 and a current ratio of 0.72. Baytex Energy has a 1 year low of C$3.85 and a 1 year high of C$6.37. The company has a market capitalization of C$3.41 billion, a price-to-earnings ratio of -6.14, a price-to-earnings-growth ratio of 0.12 and a beta of 2.65.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its earnings results on Thursday, July 25th. The company reported C$0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.16 by C($0.03). Baytex Energy had a negative net margin of 11.92% and a negative return on equity of 9.55%. The firm had revenue of C$1.13 billion during the quarter, compared to analysts’ expectations of C$1.04 billion. As a group, equities research analysts expect that Baytex Energy will post 0.3651203 earnings per share for the current year.

Insider Buying and Selling at Baytex Energy

In other news, Senior Officer Chadwick Kalmakoff acquired 12,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of C$4.18 per share, with a total value of C$50,160.00. 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.