Canaccord Genuity Group Lowers Baytex Energy (TSE:BTE) Price Target to C$6.00

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price target decreased by analysts at Canaccord Genuity Group from C$6.50 to C$6.00 in a note issued to investors on Tuesday, BayStreet.CA reports. Canaccord Genuity Group’s target price points to a potential upside of 51.13% from the stock’s previous close.

BTE has been the topic of a number of other research reports. Raymond James raised shares of Baytex Energy to a “hold” rating in a report on Thursday, October 17th. National Bankshares decreased their price target on shares of Baytex Energy from C$8.00 to C$7.50 in a research note on Friday, September 27th. Royal Bank of Canada dropped their price objective on shares of Baytex Energy from C$6.50 to C$5.50 in a research report on Tuesday, September 17th. Finally, TD Securities reduced their price objective on Baytex Energy from C$6.00 to C$5.50 in a report on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$6.11.

Baytex Energy Stock Down 2.0 %

Shares of BTE opened at C$3.97 on Tuesday. The company has a market capitalization of C$3.20 billion, a P/E ratio of -5.75, a PEG ratio of 0.12 and a beta of 2.61. Baytex Energy has a one year low of C$3.85 and a one year high of C$6.35. The business’s 50 day simple moving average is C$4.41 and its 200-day simple moving average is C$4.73. The company has a debt-to-equity ratio of 62.33, a current ratio of 0.72 and a quick ratio of 0.77.

Baytex Energy (TSE:BTE) (NYSE:BTE) last posted its quarterly earnings data on Thursday, July 25th. The company reported C$0.13 EPS for the quarter, missing analysts’ consensus estimates of C$0.16 by C($0.03). Baytex Energy had a negative return on equity of 9.55% and a negative net margin of 11.92%. The business had revenue of C$1.13 billion during the quarter, compared to analyst estimates of C$1.04 billion. As a group, sell-side analysts predict that Baytex Energy will post 0.3703367 EPS for the current fiscal year.

Insider Activity

In related news, Senior Officer Chadwick Kalmakoff acquired 12,000 shares of the firm’s stock in a transaction that occurred on 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. 0.83% of the stock is currently owned by company 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.