Stifel Nicolaus analyst Cody Kwong maintained a Buy rating on Baytex Energy (BTE – Research Report) today and set a price target of C$7.00. The company’s shares closed today at $3.79.
According to TipRanks, Kwong is a top 100 analyst with an average return of 24.8% and a 56.63% success rate. Kwong covers the Energy sector, focusing on stocks such as Enerplus, Obsidian Energy, and Vermilion Energy.
In addition to Stifel Nicolaus, Baytex Energy also received a Buy from National Bank’s Dan Payne in a report issued on April 19. However, yesterday, CIBC maintained a Hold 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.
