Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective cut by research analysts at Royal Bank of Canada from C$3.00 to C$2.50 in a research note issued to investors on Friday, BayStreet.CA reports. Royal Bank of Canada’s price objective would indicate a potential upside of 60.26% from the stock’s previous close.
A number of other brokerages have also recently issued reports on BTE. Raymond James reiterated an “outperform” rating and set a C$3.00 price objective on shares of Baytex Energy in a report on Friday, August 2nd. National Bank Financial reduced their price objective on shares of Baytex Energy from C$4.25 to C$3.25 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Laurentian reduced their price objective on shares of Baytex Energy from C$5.00 to C$4.50 in a report on Wednesday, July 24th. CSFB reiterated an “outperform” rating and set a C$3.50 price objective on shares of Baytex Energy in a report on Tuesday, July 16th. Finally, GMP Securities cut their price target on shares of Baytex Energy from C$5.00 to C$4.00 in a report on Friday, June 28th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of C$3.68.
Shares of TSE BTE opened at C$1.56 on Friday. The stock has a market capitalization of $870.32 million and a P/E ratio of -6.84. The company has a 50-day moving average price of C$1.89 and a 200-day moving average price of C$2.12. Baytex Energy has a 1 year low of C$1.53 and a 1 year high of C$3.13. The company has a debt-to-equity ratio of 64.01, a current ratio of 0.84 and a quick ratio of 0.67.
In related news, Director Kevin Olson sold 400,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of C$2.20, for a total transaction of C$880,000.00. Following the transaction, the director now directly owns 561,228 shares in the company, valued at C$1,234,701.60.
Baytex Energy Company Profile
Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. The company offers light oil, natural gas liquids, shale and natural gas, heavy gravity crude oil, bitumen, and heavy oil.
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