Baytex Energy (TSE:BTE) Upgraded to Market Perform at Raymond James
Raymond James upgraded shares of Baytex Energy (TSE:BTE) (NYSE:BTE) from an underperform rating to a market perform rating in a research report report published on Thursday, August 23rd. They currently have C$4.75 target price on the stock, down from their prior target price of C$5.00.
Several other equities analysts have also recently issued reports on the company. National Bank Financial boosted their target price on Baytex Energy from C$5.25 to C$7.25 and gave the company an outperform rating in a research note on Tuesday, July 24th. Eight Capital boosted their target price on Baytex Energy from C$5.30 to C$8.50 in a research note on Wednesday, May 16th. Canaccord Genuity lifted their price target on Baytex Energy from C$6.25 to C$7.00 in a research report on Tuesday, July 10th. CIBC lifted their price target on Baytex Energy from C$4.50 to C$7.00 in a research report on Friday, May 18th. Finally, CSFB lifted their price target on Baytex Energy from C$5.50 to C$6.00 in a research report on Wednesday, July 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. Baytex Energy has a consensus rating of Buy and a consensus price target of C$5.81.
Shares of BTE traded up C$0.02 during mid-day trading on Thursday, hitting C$3.57. 2,402,600 shares of the company’s stock traded hands, compared to its average volume of 4,550,840. Baytex Energy has a 1 year low of C$2.95 and a 1 year high of C$6.23.
In related news, insider Edward David Lafehr bought 23,500 shares of the company’s stock in a transaction on Friday, June 22nd. The shares were acquired at an average cost of C$4.27 per share, with a total value of C$100,345.00. Also, Director Trudy Marie Curran bought 17,685 shares of the company’s stock in a transaction on Thursday, June 21st. The stock was bought at an average cost of C$4.22 per share, for a total transaction of C$74,630.70. Insiders have purchased 131,185 shares of company stock worth $480,076 over the last 90 days.
Baytex Energy Company Profile
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.
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