National Bankshares Cuts Baytex Energy (TSE:BTE) Price Target to C$7.50

Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price lowered by National Bankshares from C$8.00 to C$7.50 in a research report issued to clients and investors on Friday, BayStreet.CA reports. National Bankshares’ price objective points to a potential upside of 88.92% from the company’s previous close.

A number of other research firms also recently issued reports on BTE. Royal Bank of Canada reduced their price target on shares of Baytex Energy from C$6.50 to C$5.50 in a research report on Tuesday, September 17th. Canaccord Genuity Group boosted their target price on shares of Baytex Energy from C$6.25 to C$6.50 in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$6.28.

Baytex Energy Trading Up 2.8 %

Shares of BTE stock opened at C$3.97 on Friday. The stock has a market capitalization of C$3.20 billion, a P/E ratio of -5.75, a P/E/G ratio of 0.12 and a beta of 2.65. The company has a current ratio of 0.72, a quick ratio of 0.77 and a debt-to-equity ratio of 62.33. The firm’s 50 day moving average is C$4.59 and its 200 day moving average is C$4.76. Baytex Energy has a 12-month low of C$3.85 and a 12-month high of C$6.37.

Baytex Energy (TSE:BTE) (NYSE:BTE) last released its quarterly earnings results on Thursday, July 25th. The company reported C$0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.16 by C($0.03). The firm had revenue of C$1.13 billion during the quarter, compared to analysts’ expectations of C$1.04 billion. Baytex Energy had a negative return on equity of 9.55% and a negative net margin of 11.92%. Research analysts expect that Baytex Energy will post 0.3651203 earnings per share for the current year.

Insider Buying and Selling at Baytex Energy

In other news, Senior Officer Chadwick Kalmakoff acquired 12,000 shares of Baytex Energy stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of C$4.18 per share, with a total value of C$50,160.00. Insiders own 0.82% of the company’s stock.

Baytex Energy Company Profile

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.