Baytex Energy Corp (BTE) Given Average Recommendation of “Hold” by Analysts

Shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) have earned a consensus rating of “Hold” from the eleven analysts that are covering the company. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $7.59.

A number of research firms have recently weighed in on BTE. RBC Capital Markets reaffirmed a “sector perform” rating and set a $6.00 price objective (down from $6.50) on shares of Baytex Energy Corp in a research report on Thursday, November 3rd. TD Securities reaffirmed a “hold” rating and set a $7.00 price objective (up from $6.50) on shares of Baytex Energy Corp in a research report on Thursday, December 15th. Canaccord Genuity reaffirmed a “buy” rating on shares of Baytex Energy Corp in a research report on Wednesday, November 2nd. National Bank Financial reissued a “sector perform” rating and set a $7.00 target price on shares of Baytex Energy Corp in a research note on Thursday, December 15th. Finally, Scotiabank reissued an “outperform” rating and set a $8.25 target price on shares of Baytex Energy Corp in a research note on Thursday, December 15th.

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A number of hedge funds have recently added to or reduced their stakes in BTE. Tower Research Capital LLC TRC increased its stake in Baytex Energy Corp by 47.6% in the second quarter. Tower Research Capital LLC TRC now owns 18,742 shares of the company’s stock worth $108,000 after buying an additional 6,042 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its position in Baytex Energy Corp by 46.3% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 26,655 shares of the company’s stock valued at $130,000 after buying an additional 8,432 shares in the last quarter. Shell Asset Management Co. increased its position in Baytex Energy Corp by 27.3% in the second quarter. Shell Asset Management Co. now owns 18,200 shares of the company’s stock valued at $137,000 after buying an additional 3,900 shares in the last quarter. Formidable Asset Management LLC increased its position in Baytex Energy Corp by 142.7% in the fourth quarter. Formidable Asset Management LLC now owns 36,400 shares of the company’s stock valued at $177,000 after buying an additional 21,400 shares in the last quarter. Finally, Sprott Inc. bought a new position in Baytex Energy Corp during the third quarter valued at $425,000. 21.38% of the stock is currently owned by institutional investors and hedge funds.

Shares of Baytex Energy Corp (NYSE:BTE) opened at 4.06 on Wednesday. The firm has a 50-day moving average price of $4.34 and a 200 day moving average price of $4.40. The stock’s market cap is $858.86 million. Baytex Energy Corp has a 52 week low of $1.80 and a 52 week high of $7.14.

Baytex Energy Corp Company Profile

Baytex Energy Corp. 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 three business units: Lloydminster, Central and United States.

5 Day Chart for NYSE:BTE

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