Baytex Energy Corp. (TSE:BTE) Receives C$2.26 Average Target Price from Brokerages

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) has been assigned an average rating of “Hold” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is C$2.26.

A number of equities research analysts recently issued reports on BTE shares. Scotiabank increased their price objective on Baytex Energy from C$2.25 to C$2.75 in a research report on Thursday, July 15th. BMO Capital Markets raised their price target on Baytex Energy from C$1.75 to C$2.75 and gave the company a “na” rating in a research report on Monday, June 21st. CIBC restated a “hold” rating and set a C$3.00 price target on shares of Baytex Energy in a research report on Thursday, September 2nd. Raymond James restated an “outperform” rating and set a C$3.50 price target on shares of Baytex Energy in a research report on Friday, September 3rd. Finally, Royal Bank of Canada raised their price target on Baytex Energy from C$1.80 to C$2.20 and gave the company a “sector perform” rating in a research report on Monday, June 7th.

Shares of BTE stock opened at C$2.65 on Friday. The company has a debt-to-equity ratio of 99.88, a quick ratio of 0.41 and a current ratio of 0.43. Baytex Energy has a 52-week low of C$0.39 and a 52-week high of C$2.76. The company has a market capitalization of C$1.50 billion and a PE ratio of 1.23. The business’s fifty day moving average is C$2.18 and its 200 day moving average is C$1.86.

In other Baytex Energy news, Senior Officer Edward David Lafehr bought 15,000 shares of the business’s stock in a transaction that occurred on Thursday, September 9th. The shares were bought at an average cost of C$2.28 per share, with a total value of C$34,200.00. Following the completion of the purchase, the insider now directly owns 1,142,561 shares of the company’s stock, valued at C$2,605,039.08. Also, Director Mark Bly bought 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 3rd. The stock was acquired at an average cost of C$2.27 per share, for a total transaction of C$56,760.00. Following the completion of the purchase, the director now directly owns 378,353 shares of the company’s stock, valued at C$859,012.65. In the last quarter, insiders bought 47,000 shares of company stock worth $106,920.

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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Analyst Recommendations for Baytex Energy (TSE:BTE)

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