Baytex Energy Corp. (TSE:BTE) Given Average Recommendation of “Buy” by Brokerages

Shares of Baytex Energy Corp. (TSE:BTE – Get Rating) (NYSE:BTE) have been given a consensus recommendation of “Buy” by the nine research firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is C$7.64.

A number of brokerages have commented on BTE. Royal Bank of Canada lifted their target price on shares of Baytex Energy from C$6.00 to C$7.00 and gave the stock a “sector perform” rating in a research note on Monday, May 2nd. Standpoint Research reissued a “buy” rating and issued a C$8.25 price target (up from C$7.00) on shares of Baytex Energy in a research note on Monday, May 2nd. Scotiabank boosted their price target on shares of Baytex Energy from C$4.50 to C$6.25 in a research note on Tuesday, March 8th. National Bankshares boosted their price target on shares of Baytex Energy from C$8.75 to C$9.50 and gave the company an “outperform” rating in a research note on Friday, April 29th. Finally, Raymond James set a C$9.00 price target on shares of Baytex Energy and gave the company an “outperform” rating in a research note on Monday, May 2nd.

In other news, Senior Officer Brian Gordon Ector sold 45,000 shares of the company’s stock in a transaction on Friday, March 4th. The shares were sold at an average price of C$5.56, for a total value of C$250,200.00. Following the completion of the transaction, the insider now owns 174,733 shares in the company, valued at approximately C$971,515.48. Also, Senior Officer Chad Lundberg bought 7,700 shares of the stock in a transaction dated Friday, May 13th. The stock was bought at an average price of C$6.17 per share, with a total value of C$47,509.00. Following the acquisition, the insider now owns 472,481 shares in the company, valued at approximately C$2,915,207.77.

BTE traded down C$0.04 on Friday, reaching C$6.39. 4,532,114 shares of the company’s stock were exchanged, compared to its average volume of 7,133,702. The stock has a market cap of C$3.64 billion and a PE ratio of 2.16. Baytex Energy has a twelve month low of C$1.65 and a twelve month high of C$7.15. The stock’s fifty day moving average price is C$6.07 and its 200-day moving average price is C$5.01. The company has a debt-to-equity ratio of 57.82, a current ratio of 0.53 and a quick ratio of 0.52.

Baytex Energy (TSE:BTE – Get Rating) (NYSE:BTE) last issued its earnings results on Thursday, February 24th. The company reported C$0.98 EPS for the quarter, topping analysts’ consensus estimates of C$0.11 by C$0.87. The firm had revenue of C$552.40 million for the quarter. As a group, research analysts predict that Baytex Energy will post 1.11 earnings per share for the current fiscal year.

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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