Baytex Energy (TSE:BTE) Given New C$5.50 Price Target at BMO Capital Markets

Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price dropped by equities researchers at BMO Capital Markets from C$6.00 to C$5.50 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. BMO Capital Markets’ price target indicates a potential upside of 47.45% from the stock’s previous close.

Several other equities analysts have also weighed in on the company. Raymond James upgraded Baytex Energy to a “hold” rating in a research note on Thursday, October 17th. TD Securities cut their price objective on Baytex Energy from C$6.00 to C$5.50 in a research note on Tuesday, October 1st. Canaccord Genuity Group cut their price objective on Baytex Energy from C$6.50 to C$6.00 in a research note on Tuesday, October 22nd. Royal Bank of Canada cut their price objective on Baytex Energy from C$6.50 to C$5.50 in a research note on Tuesday, September 17th. Finally, National Bankshares cut their price objective on Baytex Energy from C$8.00 to C$7.50 in a research note on Friday, September 27th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Baytex Energy currently has an average rating of “Moderate Buy” and a consensus target price of C$5.97.

Baytex Energy Stock Performance

Shares of BTE stock traded down C$0.25 on Wednesday, hitting C$3.73. The company had a trading volume of 11,901,907 shares, compared to its average volume of 4,687,645. The firm has a market cap of C$3.00 billion, a P/E ratio of -5.39, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. The company has a 50-day moving average price of C$4.14 and a 200-day moving average price of C$4.53. The company has a quick ratio of 0.77, a current ratio of 0.72 and a debt-to-equity ratio of 62.33. Baytex Energy has a twelve month low of C$3.66 and a twelve month high of C$5.55.

Insider Activity at Baytex Energy

In other news, Senior Officer Chadwick Kalmakoff purchased 12,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of C$4.18 per share, for a total transaction of C$50,160.00. 0.83% of the stock is currently owned by 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.