Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price hoisted by analysts at Barclays from C$2.50 to C$4.00 in a research report issued on Wednesday. Barclays’ price objective suggests a potential downside of 3.85% from the stock’s previous close.
A number of other brokerages have also recently commented on BTE. GMP Securities raised Baytex Energy from a “hold” rating to a “buy” rating and raised their target price for the stock from C$4.00 to C$5.00 in a report on Monday, November 13th. AltaCorp Capital raised Baytex Energy from a “sector perform” rating to an “outperform” rating in a report on Monday. Eight Capital set a C$5.30 target price on Baytex Energy and gave the stock a “neutral” rating in a report on Thursday, January 11th. National Bank Financial raised their target price on Baytex Energy from C$4.25 to C$5.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 9th. Finally, BMO Capital Markets raised their target price on Baytex Energy from C$3.50 to C$4.00 in a report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of C$4.94.
Shares of Baytex Energy (TSE BTE) traded up C$0.08 during trading on Wednesday, reaching C$4.16. The company had a trading volume of 1,752,703 shares, compared to its average volume of 3,100,000. Baytex Energy has a one year low of C$2.76 and a one year high of C$5.97. The company has a market cap of $979.47, a PE ratio of -2.58 and a beta of 3.04.
In other Baytex Energy news, insider Murray Joseph Desrosiers sold 13,500 shares of the firm’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. Also, Director Mark Bly purchased 15,000 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were acquired at an average cost of C$2.96 per share, for a total transaction of C$44,400.00.
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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