National Bankshares Issues Pessimistic Forecast for Baytex Energy (TSE:BTE) Stock Price

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective lowered by stock analysts at National Bankshares from C$5.50 to C$5.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ price objective would indicate a potential upside of 141.55% from the stock’s current price.

Several other research firms also recently commented on BTE. BMO Capital Markets decreased their price objective on Baytex Energy from C$5.00 to C$4.00 in a report on Wednesday, March 5th. Atb Cap Markets cut shares of Baytex Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 30th. CIBC cut their price target on Baytex Energy from C$5.00 to C$4.25 in a research note on Thursday, April 10th. Scotiabank upgraded Baytex Energy to a “hold” rating in a report on Wednesday, March 19th. Finally, TD Securities cut their price objective on shares of Baytex Energy from C$4.75 to C$4.50 and set a “buy” rating on the stock in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$4.68.

Baytex Energy Price Performance

Shares of TSE BTE opened at C$2.07 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 0.69 and a debt-to-equity ratio of 57.38. The firm has a fifty day simple moving average of C$2.65 and a 200 day simple moving average of C$3.37. The company has a market capitalization of C$1.63 billion, a PE ratio of -4.71, a P/E/G ratio of 0.12 and a beta of 2.61. Baytex Energy has a twelve month low of C$1.91 and a twelve month high of C$5.25.

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.