Baytex Energy Corp. (BTE) Shares Down 2%

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) shares were down 2% during mid-day trading on Monday . The company traded as low as C$4.10 and last traded at C$4.14. Approximately 3,612,464 shares traded hands during trading, an increase of 9% from the average daily volume of 3,310,381 shares. The stock had previously closed at C$4.06.

A number of research analysts recently issued reports on BTE shares. Canaccord Genuity raised their price target on Baytex Energy from C$3.50 to C$4.25 in a research note on Wednesday, August 2nd. BMO Capital Markets lifted their target price on Baytex Energy from C$3.50 to C$4.00 in a research note on Friday, November 3rd. GMP Securities upgraded Baytex Energy from a “hold” rating to a “buy” rating and lifted their target price for the company from C$4.00 to C$5.00 in a research note on Monday, November 13th. TD Securities lifted their target price on Baytex Energy from C$4.00 to C$4.25 and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Finally, Royal Bank Of Canada lifted their target price on Baytex Energy from C$4.00 to C$4.50 and gave the company a “sector perform” rating in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Baytex Energy presently has an average rating of “Hold” and an average price target of C$4.98.

In other Baytex Energy news, Director John Albert Brussa sold 10,000 shares of Baytex Energy stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of C$3.48, for a total value of C$34,800.00.

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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.

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