National Bank Financial Raises Baytex Energy (BTE) Price Target to C$5.00

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price target increased by National Bank Financial from C$4.25 to C$5.00 in a research note issued to investors on Tuesday. They currently have a sector perform rating on the stock.

A number of other equities analysts also recently commented on BTE. BMO Capital Markets lifted their target price on Baytex Energy from C$3.50 to C$4.00 in a research note on Friday, November 3rd. Barclays downgraded Baytex Energy from an equal weight rating to an underweight rating and decreased their target price for the company from C$3.50 to C$2.50 in a research note on Monday, October 30th. AltaCorp Capital downgraded Baytex Energy from an outperform rating to a sector perform rating in a research note on Friday, October 6th. GMP Securities upgraded Baytex Energy from a hold rating to a buy rating and lifted their target price for the company from C$4.00 to C$5.00 in a research note on Monday, November 13th. Finally, Raymond James Financial lifted their target price on Baytex Energy from C$3.50 to C$4.00 and gave the company an underperform rating in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of C$4.75.

Shares of Baytex Energy (TSE BTE) traded up C$0.04 during mid-day trading on Tuesday, reaching C$4.02. The company’s stock had a trading volume of 3,980,000 shares, compared to its average volume of 3,120,000. Baytex Energy has a 12 month low of C$2.76 and a 12 month high of C$6.28. The firm has a market capitalization of $946.51, a P/E ratio of -2.50 and a beta of 3.04.

In related news, insider Murray Joseph Desrosiers sold 13,500 shares of the business’s stock in a transaction that occurred on 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 bought 15,000 shares of the company’s stock in a transaction that occurred 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.

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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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