Price Target Update on Baytex Energy Corp (NYSE:BTE)

Baytex Energy Corp (NYSE:BTE) : The most positive equity analysts on Baytex Energy Corp (NYSE:BTE) expects the shares to touch $16, whereas, the least positive believes that the stock will trade at $4 in the short term. The company is covered by 6 Wall Street Brokerage Firms. The average price target for shares are $7.25 with an expected fluctuation of $4.37 from the mean.

Other Equity analysts have also commented on the company shares. Canaccord Genuity upgrades its rating on Baytex Energy Corp (NYSE:BTE). Analysts at the Canaccord Genuity have a current rating of Buy on the shares. The shares were previously rated Hold. The rating by the firm was issued on August 24, 2015.

Baytex Energy Corp (NYSE:BTE): stock turned positive on Thursday. Though the stock opened at $5.96, the bulls momentum made the stock top out at $6.015 level for the day. The stock recorded a low of $5.86 and closed the trading day at $6, in the green by 3.81%. The total traded volume for the day was 2,582,203. The stock had closed at $5.78 in the previous days trading.

The company shares have dropped -65.51% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $16.99 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $5.20 and the 200 Day Moving Average price is recorded at $3.64.

Baytex Energy Corp. (Baytex), through its subsidiaries, is engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (primarily in the provinces of Alberta and Saskatchewan) and in the United States (primarily in the state of Texas). The Companys crude oil and natural gas operations are organized into three business units: Central; Lloydminster; and United States. Each business unit has a portfolio of mineral leases, operated and non-operated properties and development prospects. The Companys wholly owned subsidiaries include include Baytex Energy Ltd., which is engaged in the business of oil and natural gas exploration, exploitation, development, acquisition and production in Canada, and Baytex Energy USA, Inc., which is engaged in the business of oil and natural gas exploration, exploitation, development, acquisition and production in the United States.

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