Baytex Energy (BTE) Upgraded to Outperform at AltaCorp Capital

AltaCorp Capital upgraded shares of Baytex Energy (TSE:BTE) (NYSE:BTE) from a sector perform rating to an outperform rating in a research note issued to investors on Monday morning.

Other equities research analysts have also issued reports about the stock. National Bank Financial raised their price objective on shares of Baytex Energy from C$3.75 to C$4.25 and gave the stock a sector perform rating in a report on Friday, November 3rd. BMO Capital Markets raised their price objective on shares of Baytex Energy from C$3.50 to C$4.00 in a report on Friday, November 3rd. Royal Bank of Canada raised their price objective on shares of Baytex Energy from C$4.00 to C$4.50 and gave the stock a sector perform rating in a report on Friday, November 3rd. Eight Capital set a C$5.30 price objective on shares of Baytex Energy and gave the stock a neutral rating in a report on Thursday, January 11th. Finally, Barclays lowered shares of Baytex Energy from an equal weight rating to an underweight rating and dropped their price objective for the stock from C$3.50 to C$2.50 in a report on Monday, October 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Baytex Energy has a consensus rating of Hold and a consensus price target of C$4.80.

Shares of Baytex Energy (TSE BTE) traded down C$0.16 during trading hours on Monday, hitting C$4.08. 3,304,732 shares of the company were exchanged, compared to its average volume of 3,291,977. Baytex Energy has a fifty-two week low of C$2.76 and a fifty-two week high of C$5.97. The firm has a market capitalization of $960.64, a price-to-earnings ratio of -2.53 and a beta of 3.04.

Baytex Energy (TSE:BTE) (NYSE:BTE) last issued its quarterly earnings data on Thursday, November 2nd. The company reported C($0.04) EPS for the quarter, topping analysts’ consensus estimates of C($0.23) by C$0.19. Baytex Energy had a negative net margin of 4.63% and a negative return on equity of 1.97%.

In related news, insider Murray Joseph Desrosiers sold 13,500 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of C$3.78, for a total value of C$51,030.00. Also, Director Mark Bly bought 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was acquired at an average cost of C$2.96 per share, with a total value of C$44,400.00.

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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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