Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective reduced by equities research analysts at CSFB from C$3.50 to C$3.00 in a research report issued on Friday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CSFB’s price target would indicate a potential upside of 100.00% from the stock’s current price.
A number of other equities analysts have also weighed in on the stock. CIBC decreased their price target on shares of Baytex Energy from C$4.00 to C$3.00 in a report on Tuesday, October 15th. Raymond James restated a “market perform” rating and set a C$2.00 price objective on shares of Baytex Energy in a report on Monday, November 4th. Finally, Royal Bank of Canada dropped their price objective on Baytex Energy from C$3.00 to C$2.50 in a report on Friday, October 18th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of C$3.53.
Shares of BTE stock opened at C$1.50 on Friday. Baytex Energy has a one year low of C$1.33 and a one year high of C$3.13. The company has a debt-to-equity ratio of 62.22, a quick ratio of 0.79 and a current ratio of 0.99. The company has a 50 day moving average price of C$1.56 and a 200 day moving average price of C$1.85. The firm has a market capitalization of $837.00 million and a price-to-earnings ratio of -6.58.
In other news, Director Kevin Olson sold 400,000 shares of Baytex Energy stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of C$2.20, for a total value of C$880,000.00. Following the transaction, the director now directly owns 561,228 shares of the company’s stock, valued at approximately C$1,234,701.60.
Baytex Energy Company Profile
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 Eagle Ford in the United States. The company offers light oil, natural gas liquids, shale and natural gas, heavy gravity crude oil, bitumen, and heavy oil.
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