Shares of Baytex Energy Corp. (TSE:BTE – Get Rating) (NYSE:BTE) have been given a consensus recommendation of “Moderate Buy” by the ten analysts that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is C$8.18.
A number of equities research analysts recently commented on BTE shares. Scotiabank increased their price target on Baytex Energy from C$6.75 to C$9.00 in a research report on Wednesday, June 8th. Standpoint Research cut their target price on Baytex Energy from C$9.00 to C$8.57 in a research note on Thursday, July 28th. BMO Capital Markets boosted their target price on Baytex Energy from C$8.00 to C$8.50 in a research report on Friday, April 29th. Raymond James boosted their price objective on Baytex Energy from C$9.00 to C$9.50 and gave the company an “outperform” rating in a research report on Tuesday, July 5th. Finally, TD Securities upped their price target on Baytex Energy from C$6.50 to C$7.50 and gave the stock a “hold” rating in a research report on Friday, April 29th.
In other Baytex Energy news, Senior Officer Chad Lundberg acquired 7,700 shares of the stock in a transaction that occurred on Friday, May 13th. The shares were bought at an average price of C$6.17 per share, for a total transaction of C$47,509.00. Following the completion of the transaction, the insider now owns 472,481 shares of the company’s stock, valued at approximately C$2,915,207.77. In other Baytex Energy news, Senior Officer Chad Lundberg purchased 7,700 shares of the stock in a transaction on Friday, May 13th. The stock was acquired at an average price of C$6.17 per share, with a total value of C$47,509.00. Following the transaction, the insider now directly owns 472,481 shares of the company’s stock, valued at approximately C$2,915,207.77. Also, Director Mark Bly bought 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 23rd. The shares were acquired at an average price of C$5.59 per share, with a total value of C$67,080.00. Following the acquisition, the director now owns 421,544 shares of the company’s stock, valued at C$2,356,430.96. Insiders acquired a total of 39,700 shares of company stock valued at $228,289 over the last three months.
Baytex Energy Trading Up 3.6 %
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 Texas, 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 comprise 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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