CIBC upgraded shares of Baytex Energy (TSE:BTE) (NYSE:BTE) from a neutral rating to an outperform rating in a report released on Friday morning.

A number of other research analysts have also recently weighed in on BTE. TD Securities boosted their price objective on shares of Baytex Energy from C$4.50 to C$5.50 and gave the company a hold rating in a research report on Friday, May 4th. BMO Capital Markets boosted their price objective on shares of Baytex Energy from C$4.00 to C$6.00 in a research report on Friday, May 4th. Royal Bank of Canada boosted their price objective on shares of Baytex Energy from C$5.00 to C$6.00 in a research report on Friday, May 4th. Scotiabank boosted their price objective on shares of Baytex Energy from C$4.50 to C$5.25 and gave the company a sector perform rating in a research report on Friday, May 4th. Finally, Desjardins boosted their price objective on shares of Baytex Energy to C$4.00 in a research report on Monday, May 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of C$5.81.

BTE stock opened at C$4.32 on Friday. Baytex Energy has a twelve month low of C$2.89 and a twelve month high of C$6.23.

In related news, insider Edward David Lafehr purchased 23,500 shares of the business’s stock in a transaction dated Friday, June 22nd. The shares were purchased at an average cost of C$4.27 per share, for a total transaction of C$100,345.00. Also, Director Trudy Marie Curran purchased 17,685 shares of the business’s stock in a transaction dated Thursday, June 21st. The stock was bought at an average price of C$4.22 per share, for a total transaction of C$74,630.70. Over the last 90 days, insiders bought 131,185 shares of company stock worth $480,076.

About Baytex Energy

Baytex Energy Corp., an oil and gas company, engages in the acquisition, development, and production of oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. It offers heavy oil, heavy gravity crude oil, bitumen, light oil, and natural gas liquids. Its primary oil resource plays include the Eagle Ford in Texas, and the Peace River Oil Sands and Lloydminster heavy oil projects in North America.

Recommended Story: What does earnings per share mean?

Analyst Recommendations for Baytex Energy (TSE:BTE)

Receive News & Ratings for Baytex Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baytex Energy and related companies with MarketBeat.com's FREE daily email newsletter.