CIBC analyst Dennis Fong maintained a Hold rating on Baytex Energy (BTE – Research Report) today and set a price target of C$6.50. The company’s shares closed today at $3.65.
Fong covers the Energy sector, focusing on stocks such as Baytex Energy, Canadian Natural, and Cenovus Energy. According to TipRanks, Fong has an average return of 4.3% and a 49.03% success rate on recommended stocks.
In addition to CIBC, Baytex Energy also received a Hold from BMO Capital’s Jeremy Mccrea in a report issued on April 18. However, on April 19, National Bank maintained a Buy rating on Baytex Energy (NYSE: BTE).
Based on Baytex Energy’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.07 billion and a GAAP net loss of $625.83 million. In comparison, last year the company earned a revenue of $648.99 million and had a net profit of $96.83 million
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BTE in relation to earlier this year.
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Baytex Energy (BTE) Company Description:
Baytex Energy Corp. is an oil and gas exploration & production company, which engages in the acquisition, development and production of crude oil and natural gas. The company was founded on October 22, 2010 and is headquartered in Calgary, Canada.
