Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price boosted by equities researchers at CIBC from C$4.00 to C$4.50 in a report released on Tuesday. CIBC’s target price points to a potential upside of 5.14% from the company’s current price.
A number of other brokerages have also issued reports on BTE. National Bank Financial increased their price objective 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. Barclays increased their price objective on Baytex Energy from C$2.50 to C$4.00 in a report on Wednesday, January 17th. GMP Securities raised Baytex Energy from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$4.00 to C$5.00 in a report on Monday, November 13th. BMO Capital Markets increased their price target on Baytex Energy from C$3.50 to C$4.00 in a research note on Friday, November 3rd. Finally, Eight Capital set a C$5.30 price target on Baytex Energy and gave the company a “neutral” rating in a research note on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of C$4.82.
Shares of Baytex Energy (BTE) traded up C$0.14 during trading on Tuesday, hitting C$4.28. The stock had a trading volume of 3,700,256 shares, compared to its average volume of 3,198,210. The firm has a market cap of $1,010.00, a PE ratio of -2.66 and a beta of 3.04. Baytex Energy has a fifty-two week low of C$2.76 and a fifty-two week high of C$5.97.
In other news, insider Brian Gordon Ector sold 16,000 shares of the firm’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of C$4.12, for a total transaction of C$65,920.00. Also, insider Murray Joseph Desrosiers sold 13,500 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of C$3.78, for a total value of C$51,030.00. Over the last three months, insiders have sold 34,136 shares of company stock valued at $136,050.
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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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