Baytex Energy (TSE:BTE – Get a Rating) (NYSE:BTE) had its price target raised by Raymond James stock research analysts from C$6.50 to C$9.00 in a report on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ target price suggests a potential upside of 53.32% from the company’s current price.
Several other equity analysts have also recently weighed in on BTE. Scotiabank raised its price target on shares of Baytex Energy from C$4.50 to C$6.25 in a Tuesday, March 8 research note. TD Securities raised its price target on shares of Baytex Energy from C$4.75 to C$5.25 and gave the stock a “holding” rating in a Friday, Feb. 25 research report. Finally, CIBC raised its price target on shares of Baytex Energy from C$5.00 to C$7.00 in a Thursday, March 3 research report. Six analysts gave the stock a hold rating and two gave the company a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$4.98.
BTE stock traded C$0.20 midday Friday, hitting C$5.87. 4,632,307 shares were traded, compared to its average volume of 7,505,805. The company has a leverage ratio of 62.74, a current ratio of 0.54 and a quick ratio of 0.51. The company has a market capitalization of C$3.31 billion and a P/E ratio of 2.08. Baytex Energy has a 1-year low of C$1.23 and a 1-year high of C$6.63. The stock’s 50-day simple moving average is C$5.19 and its 200-day simple moving average is C$4.23.
In other news, Senior Officer Brian Gordon Ector sold 45,000 shares in a trade dated Friday, March 4. The shares were sold at an average price of CA$5.56, for a total transaction of CA$250,200.00. Following the transaction, the insider now directly owns 174,733 shares of the company, valued at approximately C$971,515.48.
Baytex Energy Company Profile (Get an evaluation)
Baytex Energy Corp., an oil and gas company, acquires, develops and produces oil and natural gas in the Western Canada Sedimentary Basin and Eagle Ford in the 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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