Baytex Energy (TSE:BTE) Price Target Raised to C$7.50

Key Points

• Scotia raised its price target to C$7.50 (from C$6.50) and maintained a "sector outperform" view; several other analysts have also lifted targets, leaving a MarketBeat consensus rating of "Moderate Buy" with a C$7.00 consensus target.
• Shares traded at C$6.67 on Friday (up ~0.5%) with a market capitalization of C$4.92 billion and a one‑year range of C$2.18–C$7.14, placing the stock near the upper end of its recent range.
• Fundamentals show risk: quarterly EPS of C($0.09), a negative net margin (−40.77%) and high leverage (debt/equity 4.94), although several insiders have recently purchased shares, modestly increasing insider ownership.

Baytex Energy (TSE:BTE - Get Free Report) NYSE: BTE had its price objective raised by research analysts at Scotia from C$6.50 to C$7.50 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has a "sector outperform" rating on the stock. Scotia's target price indicates a potential upside of 12.44% from the stock's previous close.

Other research analysts have also issued research reports about the stock. Raymond James Financial raised their price target on shares of Baytex Energy from C$7.00 to C$8.00 and gave the stock an "outperform" rating in a report on Friday. Scotiabank lifted their price objective on Baytex Energy from C$5.25 to C$5.50 and gave the stock an "outperform" rating in a research report on Tuesday, January 20th. Royal Bank Of Canada lifted their price objective on Baytex Energy from C$5.00 to C$6.50 and gave the stock a "sector perform" rating in a research report on Wednesday, April 8th. Canaccord Genuity Group raised Baytex Energy from a "hold" rating to a "buy" rating and lifted their price objective for the stock from C$5.25 to C$7.00 in a research report on Tuesday, April 14th. Finally, TD Securities lifted their price objective on Baytex Energy from C$5.00 to C$5.50 and gave the stock a "hold" rating in a research report on Thursday, March 5th. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$7.00.

Baytex Energy Trading Up 0.5%

TSE:BTE traded up C$0.03 during trading hours on Friday, hitting C$6.67. 4,958,102 shares of the company were exchanged, compared to its average volume of 7,523,539. The company has a fifty day simple moving average of C$5.86 and a 200 day simple moving average of C$4.87. Baytex Energy has a one year low of C$2.18 and a one year high of C$7.14. The stock has a market capitalization of C$4.92 billion, a price-to-earnings ratio of -8.55, a price-to-earnings-growth ratio of 0.12 and a beta of 0.58. The company has a current ratio of 3.61, a quick ratio of 0.77 and a debt-to-equity ratio of 4.94.

Baytex Energy (TSE:BTE - Get Free Report) NYSE: BTE last announced its earnings results on Thursday, May 7th. The company reported C($0.09) EPS for the quarter. Baytex Energy had a negative net margin of 40.77% and a negative return on equity of 16.25%. The company had revenue of C$401.37 million during the quarter. Sell-side analysts expect that Baytex Energy will post 0.3703367 EPS for the current fiscal year.

Insider Transactions at Baytex Energy

In other news, insider Nicole Marie Frechette bought 8,500 shares of the firm's stock in a transaction that occurred on Thursday, April 2nd. The stock was acquired at an average cost of C$5.84 per share, with a total value of C$49,640.00. Following the transaction, the insider directly owned 73,026 shares of the company's stock, valued at approximately C$426,471.84. This represents a 13.17% increase in their position. Also, insider James Robert Maclean purchased 10,000 shares of the firm's stock in a transaction on Friday, March 20th. The shares were acquired at an average price of C$5.73 per share, with a total value of C$57,300.00. Following the purchase, the insider directly owned 185,322 shares in the company, valued at C$1,061,895.06. This represents a 5.70% increase in their position. Over the last quarter, insiders acquired 49,800 shares of company stock valued at $293,188. 0.83% of the stock is currently owned by corporate insiders.

Baytex Energy Company Profile

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.

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