Baytex Energy (TSE:BTE) PT Raised to C$8.50

Baytex Energy (TSE:BTEGet Rating) (NYSE:BTE) had its price target increased by BMO Capital Markets from C$8.00 to C$8.50 in a research report report published on Friday, BayStreet.CA reports.

A number of other research firms have also recently commented on BTE. CIBC raised their target price on Baytex Energy from C$7.00 to C$8.00 in a research report on Thursday, April 14th. National Bankshares upgraded Baytex Energy from a sector perform rating to a buy rating and raised their target price for the company from C$6.50 to C$8.75 in a research report on Thursday, April 14th. Raymond James lifted their price objective on Baytex Energy from C$6.50 to C$9.00 and gave the stock an outperform rating in a report on Friday, March 25th. TD Securities lifted their price objective on Baytex Energy from C$4.75 to C$5.25 and gave the stock a hold rating in a report on Friday, February 25th. Finally, Scotiabank lifted their price objective on Baytex Energy from C$4.50 to C$6.25 in a report on Tuesday, March 8th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of C$6.67.

Shares of BTE stock opened at C$6.57 on Friday. The firm has a market capitalization of C$3.74 billion and a price-to-earnings ratio of 2.33. The company has a debt-to-equity ratio of 62.74, a current ratio of 0.54 and a quick ratio of 0.51. The business has a fifty day moving average of C$5.87 and a 200 day moving average of C$4.77. Baytex Energy has a 1 year low of C$1.43 and a 1 year high of C$7.15.

Baytex Energy (TSE:BTEGet Rating) (NYSE:BTE) last announced its quarterly earnings results on Thursday, February 24th. The company reported C$0.98 earnings per share for the quarter, topping the consensus estimate of C$0.11 by C$0.87. The company had revenue of C$552.40 million for the quarter. As a group, equities research analysts expect that Baytex Energy will post 0.97 earnings per share for the current year.

In other news, Senior Officer Brian Gordon Ector sold 45,000 shares of Baytex Energy stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of C$5.56, for a total transaction of C$250,200.00. Following the sale, the insider now owns 174,733 shares of the company’s stock, valued at approximately C$971,515.48.

Baytex Energy Company Profile (Get Rating)

Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Texas, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas. Its principal oil and natural gas properties comprise the Eagle Ford property in Texas, Viking and Lloydminster properties in Alberta and Saskatchewan, Peace River and Duvernay properties in Alberta.

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