Baytex Energy (BTE) PT Raised to C$4.50

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective lifted by CSFB from C$4.00 to C$4.50 in a report issued on Friday.

BTE has been the subject of several other reports. CIBC raised their target price on shares of Baytex Energy from C$4.00 to C$4.50 in a research report on Tuesday, January 23rd. Barclays raised their target price on shares of Baytex Energy from C$2.50 to C$4.00 in a research report on Wednesday, January 17th. TD Securities dropped their target price on shares of Baytex Energy from C$21.00 to C$20.00 and set a buy rating for the company in a research report on Wednesday, March 14th. GMP Securities raised shares of Baytex Energy from a hold rating to a buy rating in a research report on Friday, March 9th. Finally, BMO Capital Markets reaffirmed a market perform rating and issued a C$4.00 target price on shares of Baytex Energy in a research report on Wednesday, March 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Baytex Energy currently has an average rating of Hold and an average target price of C$5.94.

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Shares of BTE opened at C$4.15 on Friday. Baytex Energy has a twelve month low of C$2.76 and a twelve month high of C$4.71.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its quarterly earnings results on Tuesday, March 6th. The company reported C($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C($0.14) by C$0.07. The business had revenue of C$302.19 million during the quarter. Baytex Energy had a negative net margin of 4.63% and a negative return on equity of 1.97%.

In other news, Director John Albert Brussa sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, April 11th. The shares were sold at an average price of C$4.00, for a total value of C$100,000.00. Also, insider Brian Gordon Ector sold 16,000 shares of the stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of C$4.12, for a total transaction of C$65,920.00. Over the last ninety days, insiders sold 89,636 shares of company stock valued at $349,620.

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About Baytex Energy

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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