Baytex Energy (TSE:BTE) Given New C$0.40 Price Target at Raymond James

Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price lowered by Raymond James from C$0.50 to C$0.40 in a report published on Wednesday, BayStreet.CA reports. The firm currently has an underperform rating on the stock.

Several other brokerages also recently weighed in on BTE. CSFB downgraded Baytex Energy from an outperform rating to a neutral rating in a research note on Wednesday. Stifel Firstegy restated a buy rating on shares of Baytex Energy in a research note on Thursday, February 6th. Tudor Pickering & Holt set a C$1.75 target price on Baytex Energy and gave the company a hold rating in a research note on Wednesday, March 4th. Tudor Pickering reaffirmed a hold rating and set a C$1.75 price target on shares of Baytex Energy in a research report on Wednesday, March 4th. Finally, Royal Bank of Canada reduced their price target on shares of Baytex Energy from C$0.80 to C$0.60 and set a sector perform rating on the stock in a research report on Sunday. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. Baytex Energy currently has a consensus rating of Hold and an average target price of C$1.70.

TSE BTE traded down C$0.03 during trading hours on Wednesday, hitting C$0.34. The company had a trading volume of 8,050,274 shares, compared to its average volume of 6,016,313. Baytex Energy has a fifty-two week low of C$0.29 and a fifty-two week high of C$3.13. The company has a market capitalization of $179.36 million and a price-to-earnings ratio of -15.23. The company has a debt-to-equity ratio of 62.69, a current ratio of 0.79 and a quick ratio of 0.77. The firm’s 50 day moving average is C$1.03 and its 200 day moving average is C$1.55.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its quarterly earnings results on Wednesday, March 4th. The company reported C$0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.06 by C($0.01). The company had revenue of C$445.90 million during the quarter. On average, equities analysts anticipate that Baytex Energy will post 0.0505263 EPS for the current year.

About Baytex Energy

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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