Baytex Energy Corp (TSE:BTE) had its price objective lowered by analysts at Raymond James from C$7.00 to C$6.00 in a research report issued to clients and investors on Tuesday, Marketbeat reports. Raymond James’ price target would indicate a potential upside of 118.18% from the company’s previous close.

In other Baytex Energy Corp news, insider Chadwick Kalmakoff purchased 14,000 shares of the firm’s stock in a transaction that occurred on Friday, December 11th. The stock was purchased at an average cost of C$3.95 per share, with a total value of C$55,300.00. Also, Director Edward Chwyl purchased 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 14th. The shares were acquired at an average cost of C$2.37 per share, with a total value of C$118,500.00.

Several other research firms have also recently commented on BTE. National Bank Financial reaffirmed a “sector perform” rating and issued a C$9.00 target price on shares of Baytex Energy Corp in a research note on Monday, November 9th. RBC Capital lowered their target price on shares of Baytex Energy Corp from C$7.00 to C$5.00 in a research note on Wednesday, January 20th. CIBC lowered their target price on shares of Baytex Energy Corp from C$9.00 to C$6.50 in a research note on Thursday, January 14th. TD Securities lowered their target price on shares of Baytex Energy Corp from C$9.00 to C$8.50 and set a “hold” rating for the company in a research note on Friday, December 11th. Finally, Canaccord Genuity lowered their target price on shares of Baytex Energy Corp from C$8.50 to C$6.00 and set a “buy” rating for the company in a research note on Tuesday, January 19th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of C$9.16.

Shares of Baytex Energy Corp (TSE:BTE) opened at 2.75 on Tuesday. Baytex Energy Corp has a 1-year low of $1.57 and a 1-year high of $24.87. The firm has a 50-day moving average price of $3.47 and a 200-day moving average price of $6.42. The firm’s market capitalization is $578.23 million.

Baytex Energy Corp. (TSE:BTE), 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 Company’s 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 Company’s 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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