Baytex Energy (TSE:BTE) Given a C$2.00 Price Target at Raymond James

Baytex Energy (TSE:BTE) (NYSE:BTE) has been assigned a C$2.00 price objective by investment analysts at Raymond James in a research note issued on Friday, BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. Raymond James’ price target points to a potential upside of 34.23% from the company’s previous close.

BTE has been the topic of a number of other research reports. Royal Bank of Canada lowered their price target on Baytex Energy from C$3.00 to C$2.50 in a research report on Friday, October 18th. CSFB cut their price objective on Baytex Energy from C$3.50 to C$3.00 and set an “outperform” rating for the company in a report on Friday. Finally, CIBC reduced their price objective on Baytex Energy from C$4.00 to C$3.00 in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Baytex Energy has a consensus rating of “Buy” and a consensus target price of C$3.53.

TSE:BTE traded up C$0.04 during midday trading on Friday, hitting C$1.49. The company had a trading volume of 3,101,453 shares, compared to its average volume of 3,919,347. The company has a market capitalization of $814.68 million and a PE ratio of -6.54. The company has a quick ratio of 0.79, a current ratio of 0.99 and a debt-to-equity ratio of 62.22. Baytex Energy has a 52-week low of C$1.33 and a 52-week high of C$3.13. The stock’s fifty day moving average price is C$1.56 and its 200-day moving average price is C$1.85.

In related news, Director Kevin Olson sold 400,000 shares of Baytex Energy stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of C$2.20, for a total value of C$880,000.00. Following the transaction, the director now owns 561,228 shares in the company, 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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Analyst Recommendations for Baytex Energy (TSE:BTE)

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