TD Securities Lowers PT on Baytex Energy Corp (BTE), Keeps a Buy Rating

Baytex Energy Corp. (NYSE:BTE) is one of the Cheap Energy Stocks to Buy Under $5. On September 30, TD Securities lowered the firm’s price target on Baytex Energy Corp. (NYSE:BTE) from $4.5 to $4, while keeping a Buy rating on the stock.

The rating comes after the company topped revenue and EPS estimates for its fiscal second quarter of 2025. Baytex Energy Corp. (NYSE:BTE) posted $608.30 million in revenue, down 25.78% year-over-year but ahead of expectations by 49.06 million. In addition, the EPS of $0.14 also topped the consensus by $0.11. Management noted that its Pembina Duvernay wells reached a record peak initial production rate averaging 1,865 barrels of oil equivalent per day per well. While the overall production reached 148,095 boe/d for the quarter, with 84% oil and NGL, a 2% increase in output per share compared to Q2 2024.

Baytex Energy Corp. (NYSE:BTE) is a Canadian energy company focused on acquiring, developing, and producing crude oil and natural gas.

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Disclosure: None. This article is originally published at Insider Monkey.