Analyst Rating Update on Baytex Energy Corp (BTE)

Baytex Energy Corp (BTE) : 6 analysts are covering Baytex Energy Corp (BTE) and their average rating on the stock is 2.33, which is read as a Buy. 2 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 4 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Baytex Energy Corp (BTE) stock is expected to deviate a maximum of $4.24 from the average target price of $7.5 for the short term period. 6 Street Experts have initiated coverage on the stock with the most promising target being $16 and the most muted being $4.

Company shares have received an average consensus rating of Hold for the current week Also, Barclays maintains their rating on the shares of Baytex Energy Corp (NYSE:BTE). The current rating of the shares is Equal-weight. Equity Analysts at the Firm lowers the price target to $8 per share from $9 per share. The rating by the firm was issued on July 29, 2016.


Baytex Energy Corp (NYSE:BTE): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $4.34 and $4.30 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $4.57. The buying momentum continued till the end and the stock did not give up its gains. It closed at $4.52, notching a gain of 3.67% for the day. The total traded volume was 3,566,820 . The stock had closed at $4.36 on the previous day.

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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