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

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price target dropped by research analysts at BMO Capital Markets from C$6.00 to C$5.50 in a note issued to investors on Wednesday,BayStreet.CA reports. BMO Capital Markets’ price target suggests a potential upside of 45.50% from the stock’s current price.

Several other research analysts also recently weighed in on the company. Raymond James upgraded Baytex Energy to a “hold” rating in a research note on Thursday, October 17th. TD Securities dropped their target price on shares of Baytex Energy from C$6.00 to C$5.50 in a research report on Tuesday, October 1st. Royal Bank of Canada reduced their price target on shares of Baytex Energy from C$6.50 to C$5.50 in a report on Tuesday, September 17th. National Bankshares dropped their price objective on shares of Baytex Energy from C$8.00 to C$7.50 in a report on Friday, September 27th. Finally, Canaccord Genuity Group reduced their target price on Baytex Energy from C$6.50 to C$6.00 in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$5.97.

Baytex Energy Price Performance

Shares of Baytex Energy stock opened at C$3.78 on Wednesday. The company has a market capitalization of C$3.04 billion, a price-to-earnings ratio of -5.48, a PEG ratio of 0.12 and a beta of 2.61. 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 stock’s 50-day simple moving average is C$4.12 and its 200-day simple moving average is C$4.51. Baytex Energy has a 52 week low of C$3.66 and a 52 week high of C$5.55.

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.