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

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective cut by stock analysts at BMO Capital Markets from C$6.00 to C$5.50 in a report released on Wednesday,BayStreet.CA reports. BMO Capital Markets’ price objective would suggest a potential upside of 47.45% from the stock’s current price.

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

Baytex Energy Stock Performance

BTE traded down C$0.25 during trading on Wednesday, reaching C$3.73. The company’s stock had a trading volume of 11,901,907 shares, compared to its average volume of 4,687,645. Baytex Energy has a 52-week low of C$3.66 and a 52-week high of C$5.55. The company’s fifty day moving average price is C$4.14 and its 200-day moving average price is C$4.53. The company has a market capitalization of C$3.00 billion, a price-to-earnings ratio of -5.39, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. The company has a debt-to-equity ratio of 62.33, a quick ratio of 0.77 and a current ratio of 0.72.

Insider Buying and Selling

In related news, Senior Officer Chadwick Kalmakoff purchased 12,000 shares of Baytex Energy stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of C$4.18 per share, with a total value of C$50,160.00. 0.83% of the stock is owned by corporate insiders.

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.