Baytex Energy Corp. (BTE) Receives Consensus Rating of “Hold” from Brokerages
Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) has been assigned a consensus rating of “Hold” from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is C$4.98.
Several equities analysts have recently issued reports on BTE shares. BMO Capital Markets boosted their price target on shares of Baytex Energy from C$3.50 to C$4.00 in a report on Friday, November 3rd. GMP Securities raised shares of Baytex Energy from a “hold” rating to a “buy” rating and boosted their price target for the company from C$4.00 to C$5.00 in a report on Monday, November 13th. AltaCorp Capital downgraded shares of Baytex Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, October 6th. Royal Bank of Canada boosted their price target on shares of Baytex Energy from C$4.00 to C$4.50 and gave the company a “sector perform” rating in a report on Friday, November 3rd. Finally, National Bank Financial lifted their price objective on shares of Baytex Energy from C$3.75 to C$4.25 and gave the company a “sector perform” rating in a research note on Friday, November 3rd.
In other Baytex Energy news, Director Mark Bly purchased 15,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were purchased at an average cost of C$2.96 per share, for a total transaction of C$44,400.00. Also, insider Murray Joseph Desrosiers sold 13,500 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of C$3.78, for a total transaction of C$51,030.00.
Baytex Energy Company Profile
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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