Royal Bank of Canada Lowers Baytex Energy (TSE:BTE) Price Target to C$5.00

Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price decreased by equities researchers at Royal Bank of Canada from C$5.50 to C$5.00 in a report issued on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s price objective points to a potential upside of 27.23% from the company’s current price.

BTE has been the subject of several other research reports. National Bankshares cut their target price on shares of Baytex Energy from C$8.00 to C$7.50 in a research note on Friday, September 27th. Raymond James upgraded Baytex Energy to a “hold” rating in a research note on Thursday, October 17th. Canaccord Genuity Group decreased their target price on Baytex Energy from C$6.50 to C$6.00 in a report on Tuesday, October 22nd. BMO Capital Markets reduced their price target on shares of Baytex Energy from C$6.00 to C$5.50 in a research report on Wednesday, December 4th. Finally, TD Securities cut their target price on shares of Baytex Energy from C$6.00 to C$5.50 in a research note on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.91.

Baytex Energy Stock Up 1.8 %

Baytex Energy stock opened at C$3.93 on Tuesday. The firm has a market capitalization of C$3.16 billion, a price-to-earnings ratio of -5.70, 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. Baytex Energy has a fifty-two week low of C$3.15 and a fifty-two week high of C$5.55. The stock’s fifty day moving average is C$3.81 and its two-hundred day moving average is C$4.29.

Insider Activity

In other Baytex Energy news, Senior Officer Nicole Marie Frechette bought 8,200 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was acquired at an average price of C$3.67 per share, with a total value of C$30,094.00. 0.83% of the stock is 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.