TD Securities Lowers Baytex Energy (BTE) Price Target to C$20.00

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price target lowered by analysts at TD Securities from C$21.00 to C$20.00 in a report issued on Wednesday. The brokerage currently has a “buy” rating on the stock. TD Securities’ price target suggests a potential upside of 455.56% from the stock’s previous close.

A number of other research analysts also recently commented on the company. GMP Securities upgraded Baytex Energy from a “hold” rating to a “buy” rating in a report on Friday, March 9th. BMO Capital Markets reiterated a “market perform” rating and issued a C$4.00 price objective on shares of Baytex Energy in a report on Wednesday, March 7th. CIBC increased their price objective on Baytex Energy from C$4.00 to C$4.50 in a report on Tuesday, January 23rd. Barclays increased their price objective on Baytex Energy from C$2.50 to C$4.00 in a report on Wednesday, January 17th. Finally, AltaCorp Capital upgraded Baytex Energy from a “sector perform” rating to an “outperform” rating in a research note on Monday, January 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Baytex Energy currently has a consensus rating of “Hold” and a consensus price target of C$6.06.

Baytex Energy (TSE:BTE) traded down C$0.05 on Wednesday, hitting C$3.60. The stock had a trading volume of 2,009,700 shares, compared to its average volume of 2,986,822. Baytex Energy has a fifty-two week low of C$2.76 and a fifty-two week high of C$4.81. The stock has a market cap of $851.15, a P/E ratio of -181.25 and a beta of 2.90.

In other news, Director Mark Bly purchased 15,000 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The shares were purchased at an average price of C$3.40 per share, for a total transaction of C$51,000.00. Also, Director John Albert Brussa sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of C$3.74, for a total value of C$44,880.00. Insiders have sold a total of 58,136 shares of company stock worth $224,850 in the last 90 days.

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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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