Raymond James Cuts Baytex Energy (TSE:BTE) Price Target to C$3.00

Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price decreased by Raymond James from C$3.75 to C$3.00 in a report issued on Thursday morning, BayStreet.CA reports.

Several other research analysts have also issued reports on BTE. GMP Securities restated a buy rating and set a $22.25 price target on shares of SPDR Wells Fargo Preferred Stock ETF in a report on Friday, June 28th. Canaccord Genuity upgraded shares of Nuvista Energy to a buy rating in a report on Tuesday, April 9th. Laurentian reduced their price objective on shares of Baytex Energy from C$5.50 to C$5.00 in a research report on Thursday, June 27th. Finally, National Bank Financial reduced their price objective on shares of Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating for the company in a research report on Tuesday, June 25th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Baytex Energy has an average rating of Buy and a consensus price target of C$4.22.

Baytex Energy stock opened at C$1.90 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.75 and a debt-to-equity ratio of 70.19. Baytex Energy has a 52-week low of C$1.80 and a 52-week high of C$6.11. The stock’s 50 day moving average price is C$2.04. The company has a market cap of $1.06 billion and a price-to-earnings ratio of -3.25.

Baytex Energy (TSE:BTE) (NYSE:BTE) last released its quarterly earnings results on Thursday, May 2nd. The company reported C$0.02 earnings per share (EPS) for the quarter. The firm had revenue of C$453.42 million for the quarter. Equities research analysts expect that Baytex Energy will post 0.11 EPS for the current fiscal year.

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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