Baytex Energy (TSE:BTE) Price Target Cut to C$4.00 by Analysts at BMO Capital Markets

Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price decreased by research analysts at BMO Capital Markets from C$5.00 to C$4.00 in a report released on Wednesday,BayStreet.CA reports. BMO Capital Markets’ price target points to a potential upside of 41.84% from the stock’s current price.

A number of other brokerages have also issued reports on BTE. Atb Cap Markets lowered shares of Baytex Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 30th. Royal Bank of Canada cut their price objective on Baytex Energy from C$5.50 to C$5.00 in a report on Tuesday, January 14th. CIBC lowered their price objective on shares of Baytex Energy from C$6.00 to C$5.00 in a research report on Friday, January 17th. Finally, ATB Capital decreased their price target on shares of Baytex Energy from C$5.50 to C$5.20 in a report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$5.59.

Baytex Energy Stock Down 5.7 %

Shares of TSE:BTE traded down C$0.17 during trading on Wednesday, hitting C$2.82. The company’s stock had a trading volume of 7,066,803 shares, compared to its average volume of 4,193,058. Baytex Energy has a fifty-two week low of C$2.74 and a fifty-two week high of C$5.55. The stock’s 50-day moving average price is C$3.59 and its two-hundred day moving average price is C$3.97. The company has a debt-to-equity ratio of 57.38, a quick ratio of 0.77 and a current ratio of 0.69. The company has a market capitalization of C$2.23 billion, a PE ratio of -6.42, a PEG ratio of 0.12 and a beta of 2.61.

Insiders Place Their Bets

In related news, Senior Officer Nicole Marie Frechette purchased 8,200 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was acquired at an average price 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.