Baytex Energy (TSE:BTE) Given New C$5.50 Price Target at Scotiabank

Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price raised by equities researchers at Scotiabank from C$5.25 to C$5.50 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 17.77% from the stock’s current price.

Other analysts have also issued research reports about the company. National Bankshares decreased their price target on Baytex Energy from C$4.75 to C$4.50 and set an “outperform” rating on the stock in a report on Wednesday, October 22nd. BMO Capital Markets raised shares of Baytex Energy from a “hold” rating to an “outperform” rating and increased their target price for the company from C$3.00 to C$6.00 in a research note on Thursday, November 13th. Royal Bank Of Canada lowered shares of Baytex Energy from an “outperform” rating to a “sector perform” rating in a report on Tuesday, January 13th. Capital One Financial upgraded shares of Baytex Energy to a “hold” rating in a report on Monday, October 27th. Finally, Raymond James Financial raised shares of Baytex Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 13th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Baytex Energy presently has a consensus rating of “Moderate Buy” and an average target price of C$4.79.

Baytex Energy Trading Up 0.6%

Shares of TSE:BTE traded up C$0.03 during trading on Tuesday, reaching C$4.67. The company’s stock had a trading volume of 3,165,715 shares, compared to its average volume of 6,653,865. The company has a current ratio of 0.69, a quick ratio of 0.77 and a debt-to-equity ratio of 57.38. Baytex Energy has a 12 month low of C$1.91 and a 12 month high of C$4.81. The firm’s 50 day simple moving average is C$4.41 and its two-hundred day simple moving average is C$3.55. The stock has a market capitalization of C$3.59 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 0.12 and a beta of 0.92.

Baytex Energy (TSE:BTE) (NYSE:BTE) last issued its quarterly earnings data on Thursday, October 30th. The company reported C$0.04 earnings per share for the quarter. The company had revenue of C$746.42 million for the quarter. Baytex Energy had a negative return on equity of 8.96% and a negative net margin of 10.45%. On average, research analysts predict that Baytex Energy will post 0.3703367 EPS for the current fiscal year.

Insider Buying and Selling at Baytex Energy

In other news, insider Chad Lundberg purchased 11,500 shares of the company’s stock in a transaction dated Tuesday, December 30th. The shares were acquired at an average price of C$4.36 per share, with a total value of C$50,140.00. Following the transaction, the insider owned 532,801 shares of the company’s stock, valued at C$2,323,012.36. This represents a 2.21% increase in their ownership of the stock. Also, Director Mark Bly purchased 20,000 shares of the business’s stock in a transaction dated Wednesday, December 24th. The shares were purchased at an average price of C$4.50 per share, for a total transaction of C$90,000.00. Following the purchase, the director owned 575,638 shares of the company’s stock, valued at approximately C$2,590,371. This trade represents a 3.60% increase in their position. Company insiders own 0.83% of the company’s stock.

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.