Brokerages Set Baytex Energy Corp (BTE) PT at $4.68

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 stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$4.80.

A number of brokerages recently weighed in on BTE. Eight Capital set a C$5.30 price objective on Baytex Energy and gave the stock a “neutral” rating in a report on Thursday. National Bank Financial upped their price objective on Baytex Energy from C$3.75 to C$4.25 and gave the stock a “sector perform” rating in a report on Friday, November 3rd. BMO Capital Markets upped their target price on Baytex Energy from C$3.50 to C$4.00 in a report on Friday, November 3rd. Royal Bank of Canada upped their target price on Baytex Energy from C$4.00 to C$4.50 and gave the company a “sector perform” rating in a report on Friday, November 3rd. Finally, Barclays lowered Baytex Energy from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from C$3.50 to C$2.50 in a report on Monday, October 30th.

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

Shares of Baytex Energy (TSE:BTE) traded up C$0.04 during mid-day trading on Monday, reaching C$4.02. The company had a trading volume of 3,980,232 shares, compared to its average volume of 3,134,661. Baytex Energy has a 52-week low of C$2.76 and a 52-week high of C$6.23. The firm has a market capitalization of $988.89, a price-to-earnings ratio of -2.50 and a beta of 3.04.

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About Baytex Energy

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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