Baytex Energy (BTE) Given a C$5.30 Price Target at Eight Capital

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

Several other research firms have also recently weighed in on BTE. National Bank Financial raised their price target on Baytex Energy from C$4.25 to C$5.00 and gave the company a sector perform rating in a report on Tuesday. GMP Securities raised Baytex Energy from a hold rating to a buy rating and raised their price target for the company from C$4.00 to C$5.00 in a report on Monday, November 13th. BMO Capital Markets raised their price target on Baytex Energy from C$3.50 to C$4.00 in a report on Friday, November 3rd. Royal Bank of Canada raised their price target 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, Raymond James Financial raised their price target on Baytex Energy from C$3.50 to C$4.00 and gave the company an underperform rating in a report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of C$4.80.

Baytex Energy (TSE BTE) traded up C$0.04 during trading hours on Thursday, hitting C$4.16. The company’s stock had a trading volume of 3,285,900 shares, compared to its average volume of 3,463,183. Baytex Energy has a 1 year low of C$2.76 and a 1 year high of C$5.97. The stock has a market cap of $979.47, a PE ratio of -2.58 and a beta of 3.04.

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

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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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