National Bankshares cuts Baytex Energy (TSE:BTE) target price to C$10.00


Baytex Energy (TSE:BTE – Get a Rating) (NYSE:BTE) had its price target lowered by National Bankshares research analysts from CA$10.50 to CA$10.00 in a report on Monday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bank’s stock price target indicates upside potential of 57.48% from the stock’s previous close.

Other research analysts have also recently released reports on the stock. BMO Capital Markets raised its price target on shares of Baytex Energy from C$8.00 to C$8.50 in a Friday, April 29 report. CIBC raised its price target on Baytex Energy shares from C$7.00 to C$8.00 in a Thursday, April 14 research report. Raymond James raised his price target on Baytex Energy shares from C$9.00 to C$9.50 and gave the company an “outperform” rating in a Tuesday, July 5 research report. 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. Finally, Standpoint Research restated a “buy” rating and issued a price target of C$8.25 (vs. C$7.00 previously) on Baytex Energy shares in a Monday, May 2 research report. . Two investment analysts gave the stock a hold rating and three gave the stock a buy rating. Based on data from MarketBeat.com, Baytex Energy has an average rating of “Moderate Buy” and a consensus price target of C$8.15.

Performance of Baytex Energy shares

Shares of TSE:BTE traded at C$0.51 during Monday’s trading, hitting C$6.35. 5,026,700 shares of the company have been traded, compared to its average volume of 7,343,683. The company has a leverage ratio of 57.82, a current ratio of 0.53 and a quick ratio of 0.52 . Baytex Energy has a 12-month low of CA$1.75 and a 12-month high of CA$9.16. The company has a 50-day moving average of C$6.74 and a 200-day moving average of C$5.87. The stock has a market capitalization of C$3.61 billion and a P/E ratio of 2.06.

Baytex Energy (TSE:BTE – Get Rating) (NYSE:BTE) last reported quarterly earnings data on Thursday, April 28. The company reported earnings per share of CA$0.10 for the quarter, missing analyst consensus estimates of CA$0.19 by CA$0.09. The company had revenue of C$673.83 million for the quarter. On average, stock analysts expect Baytex Energy to post EPS of 1.1099999 for the current year.

Insider Buying and Selling at Baytex Energy

In related news, senior officer Rodney Gray acquired 20,000 shares of the company in a transaction on Thursday, June 23. The shares were purchased at an average price of CA$5.69 per share, for a total transaction of CA$113,700.00. Following the purchase, the insider now owns 934,024 shares of the company, valued at C$5,309,926.44. In other Baytex Energy news, Senior Officer Rodney Gray purchased 20,000 shares of the company in a trade dated Thursday, June 23. The shares were purchased at an average price 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, director Mark Bly purchased 12,000 shares of the company in a transaction dated Thursday, June 23. The shares were acquired at an average price of CA$5.59 per share, for a total transaction of CA$67,080.00. Following the purchase, the director now owns 421,544 shares of the company, valued at C$2,356,430.96. During the last quarter, insiders purchased 39,700 shares of the company worth $228,289.

About Baytex Energy

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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.

See also

Analyst recommendations for Baytex Energy (TSE: BTE)

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