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

Baytex Energy (TSE:BTE) (NYSE:BTE) was downgraded by analysts at TD Securities from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday,BayStreet.CA reports. They presently have a C$5.00 price target on the stock. TD Securities’ price objective would suggest a potential upside of 8.46% from the stock’s current price.

Other research analysts have also issued research reports about the company. Scotiabank raised Baytex Energy from a “hold” rating to an “outperform” rating and increased their price objective for the company 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 lifted their price target for the company from C$3.00 to C$6.00 in a research report on Thursday, November 13th. National Bankshares decreased their price objective on shares of Baytex Energy from C$4.75 to C$4.50 and set an “outperform” rating for the company in a report on Wednesday, October 22nd. Capital One Financial upgraded shares of Baytex Energy to a “hold” rating in a research note on Monday, October 27th. Finally, Royal Bank Of Canada lowered shares of Baytex Energy from an “outperform” rating to a “sector perform” rating in a research report on Tuesday. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$4.75.

Baytex Energy Stock Down 1.7%

TSE:BTE traded down C$0.08 during mid-day trading on Friday, reaching C$4.61. The stock had a trading volume of 3,539,532 shares, compared to its average volume of 7,319,557. The company has a debt-to-equity ratio of 57.38, a current ratio of 0.69 and a quick ratio of 0.77. The stock has a market cap of C$3.54 billion, a P/E ratio of 16.46, a PEG ratio of 0.12 and a beta of 0.92. The business’s 50 day moving average is C$4.37 and its 200 day moving average is C$3.50. Baytex Energy has a fifty-two week low of C$1.91 and a fifty-two week high of C$4.81.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its quarterly earnings results on Thursday, October 30th. The company reported C$0.04 EPS for the quarter. Baytex Energy had a negative net margin of 10.45% and a negative return on equity of 8.96%. The company had revenue of C$746.42 million for the quarter. As a group, sell-side analysts predict that Baytex Energy will post 0.3703367 earnings per share for the current year.

Insider Transactions at Baytex Energy

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