Baytex Energy (TSE:BTE) Stock Rating Lowered by Canaccord Genuity Group

Baytex Energy (TSE:BTE) (NYSE:BTE) was downgraded by analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a report released on Tuesday, Marketbeat reports. They presently have a C$4.75 price objective on the stock, down from their previous price objective of C$5.00. Canaccord Genuity Group’s price objective would suggest a potential upside of 1.50% from the company’s previous close.

Several other analysts have also commented on BTE. Royal Bank Of Canada lowered shares of Baytex Energy from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, January 13th. Scotiabank increased their target price on shares of Baytex Energy from C$5.25 to C$5.50 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Raymond James Financial raised shares of Baytex Energy from a “hold” rating to a “moderate buy” rating in a report on Thursday, November 13th. TD Securities downgraded Baytex Energy from a “buy” rating to a “hold” rating and set a C$5.00 price target on the stock. in a research report on Friday, January 16th. Finally, Capital One Financial raised Baytex Energy to a “hold” rating in a research report on Monday, October 27th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Baytex Energy currently has a consensus rating of “Hold” and an average target price of C$4.79.

Baytex Energy Stock Up 0.9%

Baytex Energy stock opened at C$4.68 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 market cap of C$3.60 billion, a P/E ratio of 16.71, a P/E/G ratio of 0.12 and a beta of 0.92. The business has a fifty day moving average of C$4.46 and a two-hundred day moving average of C$3.64. Baytex Energy has a twelve month low of C$1.91 and a twelve month high of C$4.85.

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

Insider Activity

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

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.