Shares of Baytex Energy Corp. (TSE:BTE – Get Rating) (NYSE:BTE) fell 4.8% in Thursday’s session. The stock traded as low as C$6.30 and last traded at C$6.36. 1,154,519 shares changed hands during trading, down 84% from the average session volume of 7,288,054 shares. The stock had previously closed at C$6.68.
Changes to analyst ratings
Several brokerages have recently commented on BTE. Royal Bank of Canada raised its price target on Baytex Energy shares from C$6.00 to C$7.00 and gave the company an ‘industry performance’ rating in a Monday research report May 2. National Bankshares cut its price target on Baytex Energy shares from CA$10.50 to CA$10.00 and set an “outperform” rating for the company in a Monday, July 18 research note. Scotiabank raised the target price of Baytex Energy shares from C$6.75 to C$9.00 in a Wednesday, June 8 research note. TD Securities raised its target price on Baytex Energy shares from C$6.50 to C$7.50 and gave the company a “holding” rating in a Friday, April 29 research note. Finally, Raymond James raised his price target on Baytex Energy shares from CA$9.00 to CA$9.50 and gave the company an “outperform” rating in a Tuesday, July 5 research note. Two investment analysts gave the stock a hold rating and three gave the stock a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$8.15.
Performance of Baytex Energy shares
The company’s 50-day simple moving average is C$6.76 and its 200-day simple moving average is C$5.93. The company has a market capitalization of C$3.48 billion and a PE ratio of 1.98. The company has a current ratio of 0.53, a quick ratio of 0.52 and a debt ratio of 57.82.
Baytex Energy (TSE:BTE – Get Rating) (NYSE:BTE) last released its quarterly earnings data on Thursday, April 28. The company reported EPS of C$0.10 for the quarter, missing the consensus estimate of C$0.19 per C ($0.09). The company had revenue of C$673.83 million for the quarter. As a group, research analysts predict that Baytex Energy Corp. will show earnings per share of 1.1099999 for the current fiscal year.
In other Baytex Energy news, Senior Officer Rodney Gray acquired 20,000 shares of the company in a trade dated Thursday, June 23. The shares were acquired at an average cost of CA$5.69 per share, with a total value of CA$113,700.00. Following the acquisition, the insider now directly owns 934,024 shares of the company, valued at C$5,309,926.44. In other news, senior officer Rodney Gray purchased 20,000 shares of the company in a trade that took place on Thursday, June 23. The shares were purchased at an average cost of CA$5.69 per share, for a total transaction of CA$113,700.00. Following the purchase, the insider now directly owns 934,024 shares of the company, valued at approximately C$5,309,926.44. Additionally, senior officer Chad Lundberg purchased 7,700 shares of the company in a trade that took place on Friday, May 13. The shares were purchased at an average price of CA$6.17 per share, with a total value of CA$47,509.00. Following the completion of the purchase, the insider now owns 472,481 shares of the company, valued at C$2,915,207.77. Insiders acquired 39,700 shares of the company valued at $228,289 over the past ninety days.
Baytex Energy Company Profile
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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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