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

Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price reduced by stock analysts at Royal Bank of Canada from C$5.50 to C$5.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s target price suggests a potential upside of 28.21% from the company’s current price.

BTE has been the subject of a number of other reports. Raymond James upgraded Baytex Energy to a “hold” rating in a report on Thursday, October 17th. TD Securities cut their price objective on shares of Baytex Energy from C$6.00 to C$5.50 in a research report on Tuesday, October 1st. National Bankshares decreased their target price on Baytex Energy from C$8.00 to C$7.50 in a research report on Friday, September 27th. Canaccord Genuity Group decreased their price target on Baytex Energy from C$6.50 to C$6.00 in a research note on Tuesday, October 22nd. Finally, BMO Capital Markets dropped their price objective on shares of Baytex Energy from C$6.00 to C$5.50 in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$5.91.

Baytex Energy Stock Performance

BTE remained flat at C$3.90 during trading on Tuesday. 2,273,640 shares of the company traded hands, compared to its average volume of 4,775,671. Baytex Energy has a 12-month low of C$3.15 and a 12-month high of C$5.55. 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 stock has a market capitalization of C$3.14 billion, a price-to-earnings ratio of -5.65, a PEG ratio of 0.12 and a beta of 2.61. The company has a 50 day simple moving average of C$3.83 and a 200 day simple moving average of C$4.30.

Insider Buying and Selling at Baytex Energy

In related news, Senior Officer Nicole Marie Frechette acquired 8,200 shares of the 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. Insiders own 0.83% 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.