Baytex Energy Corp. (BTE) Receives C$4.98 Consensus Target Price from Analysts
Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) have received a consensus recommendation of “Hold” from the twelve research firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is C$4.98.
BTE has been the topic of a number of recent research reports. AltaCorp Capital cut Baytex Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 6th. Barclays cut Baytex Energy from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from C$3.50 to C$2.50 in a research report on Monday, October 30th. National Bank Financial increased their price objective on Baytex Energy from C$3.75 to C$4.25 and gave the company a “sector perform” rating in a research report on Friday, November 3rd. Royal Bank of Canada increased their price objective on Baytex Energy from C$4.00 to C$4.50 and gave the company a “sector perform” rating in a research report on Friday, November 3rd. Finally, Raymond James Financial increased their price objective on Baytex Energy from C$3.50 to C$4.00 and gave the company an “underperform” rating in a research report on Friday, November 3rd.
In other news, Director Mark Bly bought 15,000 shares of the stock in a transaction on Wednesday, December 13th. The shares were bought at an average price of C$2.96 per share, with a total value of C$44,400.00. Also, insider Murray Joseph Desrosiers sold 13,500 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of C$3.78, for a total value of C$51,030.00.
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About Baytex Energy
Baytex Energy Corp. (Baytex) is engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (Alberta and Saskatchewan) and in the United States (Texas). The Company’s crude oil and natural gas operations are organized into four business units: Lloydminster, Peace River, Conventional and United States.
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