Baytex Energy (TSE:BTE) Stock Price Expected to Rise, ATB Cormark Capital Markets Analyst Says

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price target increased by equities research analysts at ATB Cormark Capital Markets from C$7.00 to C$8.50 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. ATB Cormark Capital Markets’ target price points to a potential upside of 27.44% from the company’s previous close.

Several other equities research analysts have also recently weighed in on BTE. National Bank Financial boosted their price objective on Baytex Energy from C$7.50 to C$8.50 and gave the stock a “sector perform” rating in a research note on Friday. TD Securities boosted their target price on Baytex Energy from C$5.00 to C$5.50 and gave the company a “hold” rating in a research report on Thursday, March 5th. Royal Bank Of Canada raised their price target 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. Raymond James Financial upgraded shares of Baytex Energy from a “hold” rating to a “moderate buy” rating and boosted their price objective for the company from C$5.50 to C$7.00 in a research report on Monday, March 30th. Finally, 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 note on Tuesday, January 20th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$7.00.

Baytex Energy Price Performance

Shares of BTE stock traded up C$0.03 during trading hours on Friday, hitting C$6.67. The stock had a trading volume of 4,958,102 shares, compared to its average volume of 7,523,539. The company has a debt-to-equity ratio of 4.94, a current ratio of 3.61 and a quick ratio of 0.77. Baytex Energy has a one year low of C$2.18 and a one year high of C$7.14. The stock’s 50-day moving average price is C$5.86 and its two-hundred day moving average price is C$4.87. The stock has a market capitalization of C$4.92 billion, a price-to-earnings ratio of -8.55, a PEG ratio of 0.12 and a beta of 0.58.

Baytex Energy (TSE:BTE) (NYSE:BTE) last issued its quarterly earnings data on Thursday, May 7th. The company reported C($0.09) earnings per share (EPS) for the quarter. The firm had revenue of C$401.37 million for the quarter. Baytex Energy had a negative return on equity of 16.25% and a negative net margin of 40.77%. Equities analysts forecast that Baytex Energy will post 0.3703367 EPS for the current year.

Insiders Place Their Bets

In other Baytex Energy news, insider James Robert Maclean acquired 10,000 shares of the firm’s stock in a transaction on Friday, March 20th. The stock was acquired at an average cost of C$5.73 per share, for a total transaction of C$57,300.00. Following the purchase, the insider owned 185,322 shares in the company, valued at approximately C$1,061,895.06. The trade was a 5.70% increase in their position. Also, insider Nicole Marie Frechette bought 8,500 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were acquired at an average price of C$5.84 per share, with a total value of C$49,640.00. Following the completion of the transaction, the insider directly owned 73,026 shares of the company’s stock, valued at C$426,471.84. This trade represents a 13.17% increase in their ownership of the stock. Insiders have acquired a total of 49,800 shares of company stock worth $293,188 over the last ninety days. Insiders own 0.83% of the company’s stock.

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.