Baytex Energy (TSE:BTE) Price Target Raised to C$6.50 at TD

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price target upped by analysts at TD from C$6.00 to C$6.50 in a note issued to investors on Monday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. TD’s target price points to a potential downside of 0.91% from the company’s previous close.

A number of other equities research analysts have also commented on BTE. ATB Cormark Capital Markets raised their price objective on Baytex Energy from C$7.00 to C$8.50 and gave the stock a “sector perform” rating in a research report on Friday. Royal Bank Of Canada raised their price target on Baytex Energy from C$6.50 to C$7.00 and gave the stock a “sector perform” rating in a research note on Monday. Raymond James Financial raised their price target on Baytex Energy from C$7.00 to C$8.00 and gave the stock an “outperform” rating in a research note on Friday. National Bank Financial raised their price target on Baytex Energy from C$7.50 to C$8.50 and gave the stock a “sector perform” rating in a research note on Friday. Finally, Canaccord Genuity Group raised Baytex Energy from a “hold” rating to a “buy” rating and raised their price target for the stock from C$5.25 to C$7.00 in a research note on Tuesday, April 14th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$7.00.

Baytex Energy Price Performance

TSE:BTE traded down C$0.06 during mid-day trading on Monday, reaching C$6.56. 3,464,813 shares of the stock were exchanged, compared to its average volume of 7,516,412. The business has a fifty day moving average price of C$5.86 and a 200 day moving average price of C$4.87. The firm has a market capitalization of C$4.84 billion, a PE ratio of -8.41, a PEG ratio of 0.12 and a beta of 0.58. Baytex Energy has a 1-year low of C$2.18 and a 1-year high of C$7.14. The company has a current ratio of 2.15, a quick ratio of 0.77 and a debt-to-equity ratio of 6.84.

Baytex Energy (TSE:BTE) (NYSE:BTE) last released its earnings results on Thursday, May 7th. The company reported C($0.09) earnings per share (EPS) for the quarter. Baytex Energy had a negative return on equity of 23.15% and a negative net margin of 83.88%.The firm had revenue of C$401.37 million for the quarter. Research analysts expect that Baytex Energy will post 0.3703367 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider James Robert Maclean acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average cost of C$5.73 per share, with a total value of C$57,300.00. Following the purchase, the insider owned 185,322 shares of the company’s stock, valued at approximately C$1,061,895.06. The trade was a 5.70% increase in their ownership of the stock. Also, insider Chad Lundberg acquired 11,000 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The stock was bought at an average cost of C$6.15 per share, for a total transaction of C$67,650.00. Following the completion of the purchase, the insider directly owned 613,401 shares in the company, valued at C$3,772,416.15. This represents a 1.83% increase in their position. Insiders acquired a total of 49,800 shares of company stock valued at $293,188 over the last 90 days. 0.83% of the stock is currently owned by insiders.

Baytex Energy Company Profile

Baytex Energy Corp is an oil and gas company. Geographically, the group operates in Canada and the United States. The company derives a majority of revenue from Canada. Its Canada segment includes the exploration, development, and production of crude oil and natural gas in Western Canada.