Baytex Energy (BTE) PT Lowered to C$20.00

Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price dropped by stock analysts at TD Securities from C$21.00 to C$20.00 in a research report issued to clients and investors on Wednesday. The firm presently has a “buy” rating on the stock. TD Securities’ target price suggests a potential upside of 452.49% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. CIBC increased their price objective on shares of Baytex Energy from C$4.00 to C$4.50 in a research note on Tuesday, January 23rd. Barclays increased their price objective on shares of Baytex Energy from C$2.50 to C$4.00 in a research note on Wednesday, January 17th. GMP Securities upgraded shares of Baytex Energy from a “hold” rating to a “buy” rating in a research note 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 research note on Wednesday, March 7th. Finally, Eight Capital set a C$5.30 price objective on shares of Baytex Energy and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of C$6.06.

Shares of Baytex Energy (BTE) traded down C$0.03 during midday trading on Wednesday, hitting C$3.62. 1,500,293 shares of the stock were exchanged, compared to its average volume of 2,976,022. Baytex Energy has a 12-month low of C$2.76 and a 12-month high of C$4.81. The stock has a market cap of $859.39, a P/E ratio of 9.78 and a beta of 2.90.

In other Baytex Energy news, Director Mark Bly bought 15,000 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was purchased at an average cost of C$3.40 per share, with a total value of C$51,000.00. Also, Director John Albert Brussa sold 12,000 shares of the firm’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of C$3.66, for a total transaction of C$43,920.00. Over the last ninety days, insiders have sold 58,136 shares of company stock valued at $224,850.

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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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