Baytex Energy (TSE:BTE) Downgraded by Canaccord Genuity Group to Hold

Baytex Energy (TSE:BTE) (NYSE:BTE) was downgraded by stock analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday,BayStreet.CA reports. They presently have a C$4.75 price target on the stock, down from their previous price target of C$5.00. Canaccord Genuity Group’s target price indicates a potential upside of 2.59% from the company’s current price.

A number of other analysts have also recently commented on BTE. Scotiabank upped their price target on Baytex Energy from C$5.25 to C$5.50 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Capital One Financial raised shares of Baytex Energy to a “hold” rating in a report on Monday, October 27th. BMO Capital Markets upgraded shares of Baytex Energy from a “hold” rating to an “outperform” rating and upped their price target for the stock from C$3.00 to C$6.00 in a research report on Thursday, November 13th. Royal Bank Of Canada cut shares of Baytex Energy from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, January 13th. Finally, Raymond James Financial raised shares of Baytex Energy from a “hold” rating to a “moderate buy” rating in a report on Thursday, November 13th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$4.79.

Baytex Energy Stock Performance

Shares of TSE:BTE traded up C$0.05 during trading on Tuesday, hitting C$4.63. The company’s stock had a trading volume of 3,792,773 shares, compared to its average volume of 7,161,509. 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 market cap of C$3.56 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 0.12 and a beta of 0.92. The company has a 50-day moving average of C$4.45 and a 200-day moving average of C$3.62. Baytex Energy has a 12 month low of C$1.91 and a 12 month high of C$4.85.

Baytex Energy (TSE:BTE) (NYSE:BTE) last released its quarterly earnings results on Thursday, October 30th. The company reported C$0.04 earnings per share for the quarter. Baytex Energy had a negative net margin of 10.45% and a negative return on equity of 8.96%. The business had revenue of C$746.42 million for the quarter. On average, sell-side analysts expect that Baytex Energy will post 0.3703367 earnings per share for the current year.

Insider Buying and Selling at Baytex Energy

In other news, Director Mark Bly acquired 20,000 shares of Baytex Energy stock in a transaction that occurred on Wednesday, December 24th. The shares were bought at an average cost of C$4.50 per share, with a total value of C$90,000.00. Following the transaction, the director directly owned 575,638 shares of the company’s stock, valued at C$2,590,371. This trade represents a 3.60% increase in their position. Also, insider Chad Lundberg acquired 11,500 shares of the firm’s stock in a transaction on Tuesday, December 30th. The stock was purchased at an average cost of C$4.36 per share, with a total value of C$50,140.00. Following the purchase, the insider owned 532,801 shares of the company’s stock, valued at C$2,323,012.36. The trade was a 2.21% increase in their ownership of the stock. Corporate insiders own 0.83% of the company’s stock.

Baytex Energy Company Profile

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.