Baytex Energy (TSE:BTE) Lowered to Market Perform Rating by Raymond James Financial

Baytex Energy (TSE:BTE) (NYSE:BTE) was downgraded by analysts at Raymond James Financial from an “outperform” rating to a “market perform” rating in a research note issued to investors on Thursday,BayStreet.CA reports. They currently have a C$5.50 price objective on the stock. Raymond James Financial’s price objective indicates a potential upside of 0.36% from the company’s current price.

BTE has been the subject of a number of other reports. BMO Capital Markets raised Baytex Energy from a “hold” rating to an “outperform” rating and increased their price target for the company from C$3.00 to C$6.00 in a research note on Thursday, November 13th. Scotiabank upped their price objective on Baytex Energy from C$5.25 to C$5.50 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Canaccord Genuity Group downgraded Baytex Energy from a “buy” rating to a “hold” rating and lowered their target price for the company from C$5.00 to C$4.75 in a research report on Tuesday, January 27th. TD Securities cut shares of Baytex Energy from a “buy” rating to a “hold” rating and set a C$5.00 price target on the stock. in a research report on Friday, January 16th. Finally, Royal Bank Of Canada downgraded shares of Baytex Energy from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, January 13th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$5.32.

Baytex Energy Price Performance

TSE BTE traded up C$0.05 on Thursday, reaching C$5.48. The company had a trading volume of 9,747,887 shares, compared to its average volume of 7,331,036. The stock has a market capitalization of C$4.21 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 0.12 and a beta of 1.02. Baytex Energy has a 12 month low of C$1.91 and a 12 month high of C$5.58. The company has a quick ratio of 0.77, a current ratio of 0.58 and a debt-to-equity ratio of 48.05. The firm’s 50 day moving average price is C$4.74 and its 200 day moving average price is C$4.02.

Baytex Energy (TSE:BTE) (NYSE:BTE) last released its quarterly earnings data on Wednesday, March 4th. The company reported C($1.11) EPS for the quarter. Baytex Energy had a net margin of 5.60% and a return on equity of 5.16%. As a group, equities analysts predict that Baytex Energy will post 0.3703367 earnings per share for the current year.

Insider Buying and Selling

In other Baytex Energy news, insider Chad Lundberg acquired 11,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 30th. The stock was bought at an average price of C$4.36 per share, for a total transaction of C$50,140.00. Following the acquisition, the insider directly owned 532,801 shares in the company, valued at C$2,323,012.36. The trade was a 2.21% increase in their ownership of the stock. Also, Director Mark Bly bought 20,000 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The shares were acquired at an average price of C$4.50 per share, with a total value of C$90,000.00. Following the completion of the transaction, the director owned 575,638 shares of the company’s stock, valued at approximately C$2,590,371. The trade was a 3.60% increase in their position. Corporate 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.