Baytex Energy (BTE) PT Raised to C$5.50 at TD Securities

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price target raised by equities researchers at TD Securities from C$4.50 to C$5.50 in a report issued on Friday. The brokerage currently has a “hold” rating on the stock. TD Securities’ price target points to a potential downside of 0.90% from the company’s current price.

BTE has been the topic of several other research reports. CIBC boosted their target price on shares of Baytex Energy from C$4.00 to C$4.50 in a report on Tuesday, January 23rd. National Bank Financial boosted their target price on shares of Baytex Energy from C$4.25 to C$5.00 and gave the company a “sector perform” rating in a report on Tuesday, January 9th. CSFB boosted their target price on shares of Baytex Energy from C$4.00 to C$4.50 in a report on Friday, April 13th. Barclays boosted their target price on shares of Baytex Energy from C$2.50 to C$4.00 in a report on Wednesday, January 17th. Finally, Raymond James boosted their target price on shares of Baytex Energy from C$3.50 to C$4.50 in a report on Tuesday, April 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Baytex Energy currently has a consensus rating of “Hold” and a consensus price target of C$5.00.

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Shares of TSE:BTE opened at C$5.55 on Friday. Baytex Energy has a 52 week low of C$2.76 and a 52 week high of C$5.89.

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

In related news, Director John Albert Brussa sold 30,000 shares of the business’s stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of C$4.75, for a total value of C$142,500.00. In the last 90 days, insiders sold 99,000 shares of company stock worth $407,100.

About Baytex Energy

Baytex Energy Corp., an oil and gas company, engages in the acquisition, development, and production of oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. It offers heavy oil, heavy gravity crude oil, bitumen, light oil, and natural gas liquids. Its primary oil resource plays include the Eagle Ford in Texas, and the Peace River Oil Sands and Lloydminster heavy oil projects in North America.

Analyst Recommendations for Baytex Energy (TSE:BTE)

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