Baytex Energy (TSE:BTE) Price Target Lowered to C$5.00 at Royal Bank of Canada

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective reduced by equities researchers at Royal Bank of Canada from C$5.50 to C$5.00 in a research note issued on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s price objective would suggest a potential upside of 28.21% from the stock’s current price.

A number of other analysts have also recently commented on BTE. Raymond James upgraded shares of Baytex Energy to a “hold” rating in a research note on Thursday, October 17th. ATB Capital lowered their price target on shares of Baytex Energy from C$5.50 to C$5.20 in a report on Wednesday, December 4th. BMO Capital Markets reduced their price objective on shares of Baytex Energy from C$6.00 to C$5.50 in a research note on Wednesday, December 4th. TD Securities cut their price target on shares of Baytex Energy from C$6.00 to C$5.50 in a report on Tuesday, October 1st. Finally, National Bankshares dropped their price objective on Baytex Energy from C$8.00 to C$7.50 in a research note on Friday, September 27th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$5.91.

Baytex Energy Price Performance

Shares of Baytex Energy stock remained flat at C$3.90 on Tuesday. 2,273,640 shares of the stock were exchanged, compared to its average volume of 4,775,671. The company has a quick ratio of 0.77, a current ratio of 0.72 and a debt-to-equity ratio of 62.33. The stock has a market cap of C$3.14 billion, a price-to-earnings ratio of -5.65, a PEG ratio of 0.12 and a beta of 2.61. The business has a 50 day moving average of C$3.83 and a 200 day moving average of C$4.30. Baytex Energy has a 1 year low of C$3.15 and a 1 year high of C$5.55.

Insider Buying and Selling

In other news, Senior Officer Nicole Marie Frechette bought 8,200 shares of the stock in a transaction dated Monday, December 9th. The stock was bought at an average price of C$3.67 per share, for a total transaction of C$30,094.00. 0.83% of the stock is owned by insiders.

Baytex Energy Company Profile

Baytex Energy Corp., an energy company, engages in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas.