Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) has received an average recommendation of “Hold” from the eleven research firms that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is C$2.26.
Several equities analysts have weighed in on the company. Royal Bank of Canada increased their price objective on Baytex Energy from C$1.80 to C$2.20 and gave the company a “sector perform” rating in a report on Monday, June 7th. Scotiabank increased their price objective on Baytex Energy from C$2.25 to C$2.75 in a report on Thursday, July 15th. CIBC reissued a “hold” rating and set a C$3.00 price objective on shares of Baytex Energy in a report on Thursday, September 2nd. Raymond James reaffirmed an “outperform” rating and issued a C$3.50 price target on shares of Baytex Energy in a report on Friday, September 3rd. Finally, BMO Capital Markets raised their price target on Baytex Energy from C$1.75 to C$2.75 and gave the stock a “na” rating in a report on Monday, June 21st.
In other Baytex Energy news, Senior Officer Edward David Lafehr acquired 15,000 shares of the stock in a transaction that occurred on Thursday, September 9th. The shares were bought at an average price of C$2.28 per share, for a total transaction of C$34,200.00. Following the completion of the transaction, the insider now owns 1,142,561 shares of the company’s stock, valued at approximately C$2,605,039.08. Also, Director Mark Bly acquired 25,000 shares of the stock in a transaction that occurred on Tuesday, August 3rd. The stock was acquired at an average price of C$2.27 per share, for a total transaction of C$56,760.00. Following the transaction, the director now directly owns 378,353 shares of the company’s stock, valued at approximately C$859,012.65. Insiders purchased 47,000 shares of company stock worth $106,920 in the last quarter.
About Baytex Energy
Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas. Its principal oil and natural gas properties include the Eagle Ford property in Texas, Viking and Lloydminster properties in Alberta and Saskatchewan, Peace River and Duvernay properties in Alberta.
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