Baytex Energy Corp (BTE) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Baytex Energy Corp (TSE:BTE) (NYSE:BTE) have earned an average recommendation of “Hold” from the twelve ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is C$4.82.

BTE has been the topic of several recent analyst reports. Royal Bank of Canada boosted their price objective on Baytex Energy from C$4.00 to C$4.50 and gave the stock a “sector perform” rating in a report on Friday, November 3rd. Raymond James Financial boosted their price objective on Baytex Energy from C$3.50 to C$4.00 and gave the stock an “underperform” rating in a report on Friday, November 3rd. GMP Securities upgraded Baytex Energy from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$4.00 to C$5.00 in a report on Monday, November 13th. National Bank Financial boosted 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. Finally, Eight Capital set a C$5.30 target price on Baytex Energy and gave the company a “neutral” rating in a research note on Thursday, January 11th.

Baytex Energy (BTE) traded down C$0.21 during midday trading on Friday, reaching C$3.53. The company’s stock had a trading volume of 3,738,800 shares, compared to its average volume of 3,190,000. The firm has a market cap of $831.14, a P/E ratio of -2.19 and a beta of 2.94. Baytex Energy has a 12-month low of C$2.76 and a 12-month high of C$5.38.

Baytex Energy (TSE:BTE) (NYSE:BTE) last posted its quarterly earnings data on Thursday, November 2nd. The company reported C($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C($0.23) by C$0.19. Baytex Energy had a negative return on equity of 1.97% and a negative net margin of 4.63%.

In other news, Director Mark Bly purchased 15,000 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was acquired at an average price of C$2.96 per share, with a total value of C$44,400.00. Also, Director John Albert Brussa purchased 40,000 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was purchased at an average cost of C$4.28 per share, with a total value of C$171,200.00. In the last ninety days, insiders have acquired 70,000 shares of company stock worth $266,600 and have sold 34,136 shares worth $136,050.

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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.

Analyst Recommendations for Baytex Energy (TSE:BTE)

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