Baytex Energy (BTEGF) Receives a Hold from RBC Capital

In a report issued on July 29, Gregory Pardy from RBC Capital maintained a Hold rating on Baytex Energy (BTEGFResearch Report), with a price target of C$2.50. The company’s shares closed last Friday at $1.72.

According to TipRanks.com, Pardy is a 4-star analyst with an average return of 8.8% and a 49.6% success rate. Pardy covers the Utilities sector, focusing on stocks such as Canadian Natural, Vermilion Energy, and Cenovus Energy.

Currently, the analyst consensus on Baytex Energy is a Hold with an average price target of $2.40, which is a 36.4% upside from current levels. In a report issued on July 14, CIBC also maintained a Hold rating on the stock with a C$3.00 price target.

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Baytex Energy’s market cap is currently $970.3M and has a P/E ratio of -15.70. The company has a Price to Book ratio of 2.24.

Based on the recent corporate insider activity of 37 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 BTEGF in relation to earlier this year.

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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.