Baytex Energy (TSE:BTE) Rating Lowered to “Hold” at TD Securities

Baytex Energy (TSE:BTE) (NYSE:BTE) was downgraded by equities research analysts at TD Securities from a “buy” rating to a “hold” rating in a report issued on Friday, MarketBeat.com reports. They currently have a C$5.00 price target on the stock. TD Securities’ price target would suggest a potential upside of 8.46% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Scotiabank upgraded Baytex Energy from a “hold” rating to an “outperform” rating and lifted their target price for the stock from C$4.00 to C$5.25 in a report on Thursday, November 13th. BMO Capital Markets raised shares of Baytex Energy from a “hold” rating to an “outperform” rating and raised their price objective for the stock from C$3.00 to C$6.00 in a research report on Thursday, November 13th. Raymond James Financial upgraded shares of Baytex Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday, November 13th. Capital One Financial raised shares of Baytex Energy to a “hold” rating in a research note on Monday, October 27th. Finally, National Bankshares decreased their price target on shares of Baytex Energy from C$4.75 to C$4.50 and set an “outperform” rating for the company in a research note on Wednesday, October 22nd. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$4.75.

Baytex Energy Trading Down 1.7%

TSE BTE opened at C$4.61 on Friday. The firm has a market capitalization of C$3.54 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 0.12 and a beta of 0.92. The business’s 50-day moving average price is C$4.39 and its two-hundred day moving average price is C$3.53. The company has a current ratio of 0.69, a quick ratio of 0.77 and a debt-to-equity ratio of 57.38. Baytex Energy has a 12 month low of C$1.91 and a 12 month high of C$4.81.

Baytex Energy (TSE:BTE) (NYSE:BTE) last issued its quarterly earnings data on Thursday, October 30th. The company reported C$0.04 earnings per share (EPS) for the quarter. Baytex Energy had a negative return on equity of 8.96% and a negative net margin of 10.45%.The company had revenue of C$746.42 million during the quarter. On average, analysts expect that Baytex Energy will post 0.3703367 EPS for the current year.

Insider Transactions at Baytex Energy

In related news, insider Chad Lundberg acquired 11,500 shares of the firm’s stock in a transaction on Tuesday, December 30th. The stock was purchased at an average cost of C$4.36 per share, with a total value of C$50,140.00. Following the acquisition, the insider owned 532,801 shares of the company’s stock, valued at approximately C$2,323,012.36. This trade represents a 2.21% increase in their position. Also, Director Mark Bly acquired 20,000 shares of the stock in a transaction dated Wednesday, December 24th. The stock was bought at an average cost of C$4.50 per share, with a total value of C$90,000.00. Following the completion of the purchase, the director owned 575,638 shares of the company’s stock, valued at approximately C$2,590,371. The trade was a 3.60% increase in their ownership of the stock. 0.83% of the stock is currently owned by insiders.

About Baytex Energy

Baytex Energy Corp is an oil and gas company. Geographically, the group operates in Canada and the United States. The company derives a majority of revenue from Canada. Its Canada segment includes the exploration, development, and production of crude oil and natural gas in Western Canada.