Baytex Energy (TSE:BTE – Get a Rating) (NYSE:BTE) saw its target price raised by Scotiabank analysts from C$6.75 to C$9.00 in a research report released Wednesday, BayStreet.CA reports. Scotiabank’s target price would suggest a potential upside of 2.97% from the stock’s previous close.
A number of other equity research analysts have also weighed in on BTE recently. Royal Bank of Canada raised its price target on Baytex Energy from C$6.00 to C$7.00 and gave the company an “industry performance” rating in a Monday, May 2 research report. Raymond James set a C$9.00 price target on Baytex Energy shares and gave the company an “outperform” rating in a Monday, May 2, report. TD Securities raised its price target on shares of Baytex Energy from C$6.50 to C$7.50 and gave the stock a “holding” rating in a Friday, April 29 research note. CIBC raised the target price for its Baytex Energy shares from C$7.00 to C$8.00 in a Thursday, April 14 research note. Finally, National Bankshares raised its price target on Baytex Energy shares from C$8.75 to C$9.50 and gave the stock an “outperform” rating in a report on Friday, April 29. Three analysts gave the stock a hold rating and three gave the company a buy rating. According to MarketBeat, Baytex Energy currently has a consensus buy rating and a consensus target price of C$7.94.
Shares of TSE:BTE traded at C$0.39 during trading hours on Wednesday, hitting C$8.74. The company’s shares had a trading volume of 10,914,622 shares, compared to its average volume of 7,151,074. Baytex Energy has a 52-week low of C$1.75 and a 52-week high of 9, CAN$06. The company has a debt ratio of 57.82, a current ratio of 0.53 and a quick ratio of 0.52. The company has a market cap of C$4.97 billion and a price-earnings ratio of 2.92. The company’s 50-day moving average price is C$6.46 and its 200-day moving average price is C$5.28.
Baytex Energy (TSE:BTE – Get Rating) (NYSE:BTE) last released quarterly earnings data 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 had revenue of C$673.83 million for the quarter. On average, stock research analysts expect Baytex Energy to post earnings per share of 1.1100001 for the current fiscal year.
In other news, senior officer Chad Lundberg bought 7,700 shares of the company in a trade that took place on Friday, May 13. The shares were purchased at an average cost of CA$6.17 per share, with a total value of CA$47,509.00. Following the transaction, the insider now directly owns 472,481 shares of the company, valued at C$2,915,207.77.
About Baytex Energy (Get an assessment)
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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