Baytex Energy (TSE:BTE) Given New C$5.20 Price Target at ATB Capital

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price target cut by equities researchers at ATB Capital from C$5.50 to C$5.20 in a research report issued on Wednesday,BayStreet.CA reports. ATB Capital’s price objective suggests a potential upside of 39.41% from the company’s current price.

A number of other research firms have also recently issued reports on BTE. National Bankshares lowered their price objective on shares of Baytex Energy from C$8.00 to C$7.50 in a research report on Friday, September 27th. Canaccord Genuity Group reduced their target price on shares of Baytex Energy from C$6.50 to C$6.00 in a report on Tuesday, October 22nd. Raymond James raised shares of Baytex Energy to a “hold” rating in a report on Thursday, October 17th. BMO Capital Markets reduced their target price on shares of Baytex Energy from C$6.00 to C$5.50 in a report on Wednesday. Finally, Royal Bank of Canada reduced their target price on shares of Baytex Energy from C$6.50 to C$5.50 in a report on Tuesday, September 17th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$5.97.

Baytex Energy Price Performance

BTE stock traded down C$0.25 during trading on Wednesday, reaching C$3.73. 11,901,907 shares of the company were exchanged, compared to its average volume of 4,687,645. The company has a 50-day moving average of C$4.14 and a two-hundred day moving average of C$4.53. The company has a market capitalization of C$3.00 billion, a price-to-earnings ratio of -5.39, a P/E/G ratio of 0.12 and a beta of 2.61. Baytex Energy has a twelve month low of C$3.66 and a twelve month high of C$5.55. The company has a debt-to-equity ratio of 62.33, a current ratio of 0.72 and a quick ratio of 0.77.

Insider Activity

In related news, Senior Officer Chadwick Kalmakoff bought 12,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of C$4.18 per share, with a total value of C$50,160.00. Insiders own 0.83% of the company’s stock.

About Baytex Energy

Baytex Energy Corp., an energy company, engages in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas.