Baytex Energy (TSE:BTE) Price Target Raised to C$7.00 at Royal Bank Of Canada

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective raised by stock analysts at Royal Bank Of Canada from C$6.50 to C$7.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 6.71% from the stock’s previous close.

Several other research analysts have also recently weighed in on BTE. Scotia boosted their price target on shares of Baytex Energy from C$6.50 to C$7.50 and gave the company a “sector outperform” rating in a research report on Friday. Raymond James Financial raised their target price on shares of Baytex Energy from C$7.00 to C$8.00 and gave the company an “outperform” rating in a report on Friday. TD Securities raised their target price on shares of Baytex Energy from C$5.00 to C$5.50 and gave the company a “hold” rating in a report on Thursday, March 5th. ATB Cormark Capital Markets increased their price target on shares of Baytex Energy from C$7.00 to C$8.50 and gave the company a “sector perform” rating in a research note on Friday. Finally, National Bank Financial increased their price target on shares of Baytex Energy from C$7.50 to C$8.50 and gave the company a “sector perform” rating in a research note on Friday. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$7.00.

Baytex Energy Price Performance

BTE traded down C$0.06 on Monday, hitting C$6.56. 3,464,813 shares of the company’s stock were exchanged, compared to its average volume of 7,516,412. The firm has a 50-day moving average price of C$5.86 and a 200-day moving average price of C$4.87. The company has a current ratio of 2.15, a quick ratio of 0.77 and a debt-to-equity ratio of 6.84. The stock has a market cap of C$4.84 billion, a price-to-earnings ratio of -8.41, a P/E/G ratio of 0.12 and a beta of 0.58. Baytex Energy has a fifty-two week low of C$2.18 and a fifty-two week high of C$7.14.

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

Insider Buying and Selling at Baytex Energy

In other news, insider Chad Lundberg acquired 11,000 shares of the stock in a transaction that occurred on Monday, March 30th. The shares were purchased at an average cost of C$6.15 per share, for a total transaction of C$67,650.00. Following the transaction, the insider directly owned 613,401 shares in the company, valued at approximately C$3,772,416.15. This represents a 1.83% increase in their position. Also, insider Nicole Marie Frechette acquired 8,500 shares of the stock in a transaction that occurred on Thursday, April 2nd. The stock was purchased at an average price of C$5.84 per share, for a total transaction of C$49,640.00. Following the completion of the transaction, the insider owned 73,026 shares in the company, valued at C$426,471.84. The trade was a 13.17% increase in their ownership of the stock. In the last three months, insiders have acquired 49,800 shares of company stock valued at $293,188. 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.