Baytex Energy (TSE:BTE) Raised to Buy at GMP Securities

GMP Securities upgraded shares of Baytex Energy (TSE:BTE) (NYSE:BTE) from a hold rating to a buy rating in a research note issued to investors on Monday, November 13th. They currently have C$5.00 price target on the stock, up from their previous price target of C$4.00.

Several other equities analysts have also issued reports on BTE. Canaccord Genuity boosted their price target on shares of Baytex Energy from C$3.50 to C$4.25 in a report on Wednesday, August 2nd. TD Securities boosted their price target on shares of Baytex Energy from C$4.00 to C$4.25 and gave the company a hold rating in a report on Wednesday, August 2nd. AltaCorp Capital lowered shares of Baytex Energy from an outperform rating to a sector perform rating in a report on Friday, October 6th. Barclays lowered shares of Baytex Energy from an equal weight rating to an underweight rating and decreased their price target for the company from C$3.50 to C$2.50 in a report on Monday, October 30th. Finally, National Bank Financial boosted their price target on shares of Baytex Energy from C$3.75 to C$4.25 and gave the company a sector perform rating in a report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Baytex Energy currently has an average rating of Hold and an average target price of C$4.98.

Shares of Baytex Energy (TSE:BTE) traded up C$0.14 during mid-day trading on Monday, hitting C$4.47. 5,649,100 shares of the stock traded hands, compared to its average volume of 3,329,976. Baytex Energy has a one year low of C$2.76 and a one year high of C$7.35.

In related news, Director John Albert Brussa sold 10,000 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were 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.

Analyst Recommendations for Baytex Energy (TSE:BTE)

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