Royal Bank of Canada Issues Pessimistic Forecast for Baytex Energy (TSE:BTE) Stock Price

Baytex Energy (TSE:BTE - Get Free Report) NYSE: BTE had its price target lowered by research analysts at Royal Bank of Canada from C$5.50 to C$5.00 in a report released on Tuesday,BayStreet.CA reports. Royal Bank of Canada's target price points to a potential upside of 29.53% from the stock's current price.

Other analysts have also issued research reports about the company. Canaccord Genuity Group decreased their price target on Baytex Energy from C$6.50 to C$6.00 in a research note on Tuesday, October 22nd. ATB Capital reduced their target price on shares of Baytex Energy from C$5.50 to C$5.20 in a research note on Wednesday, December 4th. National Bankshares lowered their target price on shares of Baytex Energy from C$8.00 to C$7.50 in a report on Friday, September 27th. Raymond James raised shares of Baytex Energy to a "hold" rating in a report on Thursday, October 17th. Finally, BMO Capital Markets decreased their price objective on shares of Baytex Energy from C$6.00 to C$5.50 in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Baytex Energy currently has an average rating of "Moderate Buy" and a consensus target price of C$5.91.

Baytex Energy Stock Performance

Baytex Energy stock traded down C$0.04 during mid-day trading on Tuesday, reaching C$3.86. The company had a trading volume of 3,516,230 shares, compared to its average volume of 4,927,970. The company has a 50 day moving average of C$3.82 and a 200-day moving average of C$4.29. Baytex Energy has a 52 week low of C$3.15 and a 52 week high of C$5.55. The company has a quick ratio of 0.77, a current ratio of 0.72 and a debt-to-equity ratio of 62.33. The firm has a market cap of C$3.11 billion, a price-to-earnings ratio of -5.59, a PEG ratio of 0.12 and a beta of 2.61.

Insider Buying and Selling at Baytex Energy

In other news, Senior Officer Nicole Marie Frechette acquired 8,200 shares of the stock in a transaction dated Monday, December 9th. The shares were bought at an average cost of C$3.67 per share, for a total transaction of C$30,094.00. Company insiders own 0.83% of the company's stock.

About Baytex Energy

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.