Royal Bank of Canada Issues Pessimistic Forecast for Baytex Energy (TSE:BTE) Stock Price

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price target lowered by equities research analysts at Royal Bank of Canada from C$5.50 to C$5.00 in a note issued to investors on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s price objective would indicate a potential upside of 27.23% from the company’s current price.

A number of other equities analysts have also commented on BTE. TD Securities reduced their price target on shares of Baytex Energy from C$6.00 to C$5.50 in a research report on Tuesday, October 1st. Canaccord Genuity Group cut their price objective on Baytex Energy from C$6.50 to C$6.00 in a research report on Tuesday, October 22nd. ATB Capital lowered their target price on Baytex Energy from C$5.50 to C$5.20 in a research note on Wednesday, December 4th. Raymond James raised shares of Baytex Energy to a “hold” rating in a research note on Thursday, October 17th. Finally, National Bankshares dropped their price objective on shares of Baytex Energy from C$8.00 to C$7.50 in a research report on Friday, September 27th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$5.91.

Baytex Energy Trading Up 1.8 %

Shares of Baytex Energy stock opened at C$3.93 on Tuesday. Baytex Energy has a 52-week low of C$3.15 and a 52-week high of C$5.55. The firm has a market capitalization of C$3.16 billion, a PE ratio of -5.70, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. The company’s fifty day moving average price is C$3.81 and its two-hundred day moving average price is C$4.29. The company has a debt-to-equity ratio of 62.33, a current ratio of 0.72 and a quick ratio of 0.77.

Insiders Place Their Bets

In other news, Senior Officer Nicole Marie Frechette acquired 8,200 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was acquired at an average cost of C$3.67 per share, for a total transaction of C$30,094.00. Corporate 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.