Royal Bank of Canada Cuts Baytex Energy (TSE:BTE) Price Target to C$2.50

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Baytex Energy (TSE:BTE) (NYSE:BTE) had its price target decreased by Royal Bank of Canada from C$3.00 to C$2.50 in a report released on Friday morning, BayStreet.CA reports.

A number of other equities analysts also recently commented on the company. Raymond James restated an outperform rating and issued a C$3.00 price objective on shares of Baytex Energy in a report on Friday, August 2nd. GMP Securities dropped their target price on Baytex Energy from C$5.00 to C$4.00 in a report on Friday, June 28th. CIBC dropped their target price on Baytex Energy from C$4.00 to C$3.00 in a report on Tuesday, October 15th. CSFB reiterated an outperform rating and set a C$3.50 target price on shares of Baytex Energy in a report on Tuesday, July 16th. Finally, National Bank Financial dropped their target price on Baytex Energy from C$4.25 to C$3.25 and set an outperform rating on the stock in a report on Tuesday, June 25th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of C$3.68.

Baytex Energy stock opened at C$1.56 on Friday. The stock’s 50-day moving average is C$1.89 and its 200-day moving average is C$2.12. The company has a market cap of $870.32 million and a price-to-earnings ratio of -6.84. The company has a debt-to-equity ratio of 64.01, a current ratio of 0.84 and a quick ratio of 0.67. Baytex Energy has a 12 month low of C$1.53 and a 12 month high of C$3.13.

Baytex Energy (TSE:BTE) (NYSE:BTE) last released its quarterly earnings data on Thursday, August 1st. The company reported C$0.14 EPS for the quarter. The firm had revenue of C$482.00 million during the quarter. Research analysts anticipate that Baytex Energy will post 0.0402484 EPS for the current year.

In related news, Director Kevin Olson sold 400,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of C$2.20, for a total transaction of C$880,000.00. Following the sale, the director now directly owns 561,228 shares in the company, valued at approximately C$1,234,701.60.

About Baytex Energy

Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. The company offers light oil, natural gas liquids, shale and natural gas, heavy gravity crude oil, bitumen, and heavy oil.

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Analyst Recommendations for Baytex Energy (TSE:BTE)

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