Baytex Energy (TSE:BTE – Get a Rating) (NYSE:BTE) had its target price raised by Stifel Nicolaus from CA$8.25 to CA$9.00 in a research note released Monday morning, BayStreet.CA reports.
Several other equity research analysts have also recently published reports on BTE. Raymond James set a CA$9.00 price target on Baytex Energy and gave the company an outperform rating in a Monday, May 2 report. National Bankshares raised its price target on Baytex Energy from C$8.75 to C$9.50 and gave the company an outperform rating in a report released Friday, April 29. BMO Capital Markets raised its price target on Baytex Energy from CA$8.00 to CA$8.50 in a Friday, April 29 report. CIBC raised its price target on Baytex Energy from CA$7.00 to CA$8.00 in a Thursday, April 14, report. Finally, Scotiabank raised its target price on Baytex Energy from C$6.75 to C$9.00 in a Wednesday, June 8 report. Two equity research analysts gave the stock a hold rating and three gave the company a buy rating. According to MarketBeat.com, Baytex Energy currently has a moderate average buy rating and a consensus target price of C$8.05.
Shares of TSE BTE opened at C$6.56 on Monday. The company has a current ratio of 0.53, a quick ratio of 0.52 and a debt ratio of 57.82. The company has a market capitalization of C$3.73 billion and a P/E ratio of 2.21. Baytex Energy has a 12-month low of CA$1.75 and a 12-month high of CA$9.16. The stock has a 50-day moving average of C$6.90 and a 200-day moving average of C$5.74.
Baytex Energy (TSE:BTE – Get Rating) (NYSE:BTE) last reported quarterly results on Thursday, April 28. The company reported earnings per share (EPS) of CA$0.10 for the quarter, missing the consensus estimate of CA$0.19 by CA$0.09. The company recorded revenue of C$673.83 million during the quarter. Analysts expect Baytex Energy to post EPS of 1.11 for the current fiscal year.
In other Baytex Energy news, senior officer Chad Lundberg bought 7,700 shares of the company in a trade on Friday, May 13. The shares were purchased at an average price of CA$6.17 per share, for a total transaction of CA$47,509.00. Following completion of the transaction, the insider now directly owns 472,481 shares of the company, valued at approximately C$2,915,207.77. Additionally, director Mark Bly purchased 12,000 shares of the company in a trade on Thursday, June 23. The stock was acquired at an average price of CA$5.59 per share, for a total transaction of CA$67,080.00. Following the transaction, the administrator now owns 421,544 shares of the company, valued at C$2,356,430.96. Last quarter, insiders acquired 39,700 shares of the company worth $228,289.
About Baytex Energy (Get a rating)
Baytex Energy Corp., an oil and gas company, acquires, develops and produces oil and natural gas in the Western Canadian Sedimentary Basin and Texas, United States. The Company offers light oil and condensate, heavy oil, natural gas liquids and natural gas. Its principal oil and gas properties include Eagle Ford property in Texas, Viking and Lloydminster properties in Alberta and Saskatchewan, Peace River and Duvernay properties in Alberta.
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