National Bank Financial Increases Baytex Energy (BTE) Price Target to C$5.25

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective increased by equities researchers at National Bank Financial from C$5.00 to C$5.25 in a report released on Thursday. The firm presently has a “sector perform” rating on the stock. National Bank Financial’s price objective would suggest a potential upside of 26.51% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. GMP Securities upgraded Baytex Energy from a “hold” rating to a “buy” rating in a report 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 report on Wednesday, March 7th. CIBC lifted their price objective on Baytex Energy from C$4.00 to C$4.50 in a report on Tuesday, January 23rd. TD Securities reduced their price objective on Baytex Energy from C$21.00 to C$20.00 and set a “buy” rating for the company in a report on Wednesday, March 14th. Finally, Barclays lifted their price objective on Baytex Energy from C$2.50 to C$4.00 in a report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Baytex Energy has an average rating of “Hold” and an average target price of C$5.94.

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Shares of TSE:BTE opened at C$4.15 on Thursday. Baytex Energy has a 1-year low of C$2.76 and a 1-year high of C$4.71.

Baytex Energy (TSE:BTE) (NYSE:BTE) last issued its quarterly earnings results on Tuesday, March 6th. The company reported C($0.07) earnings per share for the quarter, beating the consensus estimate of C($0.14) by C$0.07. Baytex Energy had a negative return on equity of 1.97% and a negative net margin of 4.63%. The firm had revenue of C$302.19 million during the quarter.

In other Baytex Energy news, insider Brian Gordon Ector sold 16,000 shares of the firm’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of C$4.12, for a total value of C$65,920.00. Also, Director Mark Bly bought 15,000 shares of the company’s stock in a transaction on Friday, January 26th. The stock was purchased at an average cost of C$3.40 per share, for a total transaction of C$51,000.00. Insiders sold 89,636 shares of company stock worth $349,620 over the last three months.

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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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