Eight Capital Reiterates “C$5.30” Price Target for Baytex Energy (BTE)

Eight Capital set a C$5.30 price objective on Baytex Energy (TSE:BTE) (NYSE:BTE) in a research report report published on Thursday morning. The brokerage currently has a neutral rating on the stock.

A number of other research analysts have also weighed in on BTE. National Bank Financial upped 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. BMO Capital Markets upped their price objective on Baytex Energy from C$3.50 to C$4.00 in a report on Friday, November 3rd. Barclays lowered Baytex Energy from an equal weight rating to an underweight rating and dropped their price objective for the stock from C$3.50 to C$2.50 in a report on Monday, October 30th. AltaCorp Capital lowered Baytex Energy from an outperform rating to a sector perform rating in a report on Friday, October 6th. Finally, GMP Securities raised Baytex Energy from a hold rating to a buy rating and upped their price objective for the stock from C$4.00 to C$5.00 in a report on Monday, November 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of C$4.80.

Baytex Energy (BTE) opened at C$4.16 on Thursday. Baytex Energy has a twelve month low of C$2.76 and a twelve month high of C$6.23. The firm has a market capitalization of $979.47, a price-to-earnings ratio of -2.58 and a beta of 3.04.

In related news, Director Mark Bly acquired 15,000 shares of Baytex Energy stock in a transaction dated Wednesday, December 13th. The shares were acquired at an average cost of C$2.96 per share, for a total transaction of C$44,400.00. Also, insider Murray Joseph Desrosiers sold 13,500 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of C$3.78, for a total value of C$51,030.00.

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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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