National Bankshares Raises Baytex Energy (TSE:BTE) Price Target to C$9.50

Baytex Energy (TSE:BTE – Get a Rating) (NYSE:BTE) had its price target raised by National Bankshares from CA$8.75 to CA$9.50 in a research report released Friday morning, BayStreet.CA reports. National Bank Stocks currently has an outperform rating for the stock.

Several other research analysts have also recently commented on BTE. Raymond James raised its price target on Baytex Energy from C$6.50 to C$9.00 and gave the stock an outperform rating in a Friday, March 25 report. CIBC raised its price target on shares of Baytex Energy from C$7.00 to C$8.00 in a Thursday, April 14 research 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 research report on Friday. BMO Capital Markets raised its price target on shares of Baytex Energy from C$8.00 to C$8.50 in a research report on Friday. Finally, Scotiabank raised its price target on shares of Baytex Energy from C$4.50 to C$6.25 in a Tuesday, March 8 research report. Five investment analysts gave the stock a hold rating and two gave the company a buy rating. According to data from, Baytex Energy currently has an average rating of Hold and a consensus price target of C$6.67.

TSE BTE opened at C$6.57 on Friday. Baytex Energy has a fifty-two week low of C$1.43 and a fifty-two week high of C$7.15. The stock’s 50-day moving average is C$5.87 and its 200-day moving average is C$4.77. The company has a debt 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$3.74 billion and a P/E ratio of 2.33.

Baytex Energy (TSE:BTE – Get Rating) (NYSE:BTE) last released quarterly earnings data on Thursday, February 24. The company reported EPS of C$0.98 for the quarter, beating analyst consensus estimates of C$0.11 by C$0.87. The company recorded revenue of C$552.40 million during the quarter. On average, stock analysts expect Baytex Energy to post 0.97 EPS for the current year.

In related news, senior officer Brian Gordon Ector sold 45,000 shares of the company in a trade on Friday, March 4. The shares were sold at an average price of CA$5.56, for a total value of CA$250,200.00. Following the completion of the transaction, the insider now directly owns 174,733 shares of the company, valued at approximately C$971,515.48.

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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