Baytex Energy (BTE) Shares Up 2.8%

Baytex Energy Corp (TSE:BTE) (NYSE:BTE) shares shot up 2.8% during trading on Thursday . The company traded as high as C$3.35 and last traded at C$3.29. 1,432,762 shares changed hands during trading, a decline of 54% from the average session volume of 3,085,747 shares. The stock had previously closed at C$3.20.

A number of research firms have recently commented on BTE. Barclays lowered shares of Baytex Energy from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from C$3.50 to C$2.50 in a research report on Monday, October 30th. AltaCorp Capital upgraded shares of Baytex Energy from a “sector perform” rating to an “outperform” rating in a research report on Monday, January 15th. Raymond James Financial boosted their price target on shares of Baytex Energy from C$3.50 to C$4.00 and gave the company an “underperform” rating in a research report on Friday, November 3rd. Royal Bank of Canada boosted their price target on shares of Baytex Energy from C$4.00 to C$4.50 and gave the company a “sector perform” rating in a research report on Friday, November 3rd. Finally, Eight Capital set a C$5.30 price target on shares of Baytex Energy and gave the company a “neutral” rating in a research report on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of C$4.82.

The firm has a market capitalization of $798.18, a price-to-earnings ratio of -2.11 and a beta of 2.94.

In other news, insider Murray Joseph Desrosiers sold 13,500 shares of Baytex Energy stock in a transaction on Thursday, December 14th. The shares were sold at an average price of C$3.78, for a total transaction of C$51,030.00. Also, Director John Albert Brussa acquired 40,000 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were bought at an average cost of C$4.28 per share, with a total value of C$171,200.00. Over the last ninety days, insiders have bought 70,000 shares of company stock valued at $266,600 and have sold 34,136 shares valued at $136,050.

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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.

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