BMO Capital Markets Issues Pessimistic Forecast for Baytex Energy (TSE:BTE) Stock Price

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective reduced by research analysts at BMO Capital Markets from C$5.00 to C$4.00 in a note issued to investors on Wednesday,BayStreet.CA reports. BMO Capital Markets’ price target would indicate a potential upside of 41.84% from the company’s current price.

Several other brokerages also recently weighed in on BTE. CIBC dropped their target price on shares of Baytex Energy from C$6.00 to C$5.00 in a report on Friday, January 17th. Royal Bank of Canada dropped their price objective on Baytex Energy from C$5.50 to C$5.00 in a research note on Tuesday, January 14th. Atb Cap Markets downgraded Baytex Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 30th. Finally, ATB Capital cut their price objective on shares of Baytex Energy from C$5.50 to C$5.20 in a report on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of C$5.59.

Baytex Energy Stock Down 5.7 %

TSE BTE traded down C$0.17 during trading hours on Wednesday, reaching C$2.82. 7,066,803 shares of the company’s stock traded hands, compared to its average volume of 4,193,058. The firm has a market cap of C$2.23 billion, a PE ratio of -6.42, a PEG ratio of 0.12 and a beta of 2.61. 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 firm has a 50-day simple moving average of C$3.59 and a 200 day simple moving average of C$3.97. Baytex Energy has a 52-week low of C$2.74 and a 52-week high of C$5.55.

Insider Buying and Selling

In other Baytex Energy news, Senior Officer Nicole Marie Frechette bought 8,200 shares of Baytex Energy stock in a transaction dated Monday, December 9th. The stock was acquired at an average cost of C$3.67 per share, with a total value of C$30,094.00. 0.83% of the stock is currently owned by insiders.

Baytex Energy Company Profile

Baytex Energy Corp., an energy company, engages in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas.