$BTE.TO

Baytex Energy Says TSX Approved Renewal of NCIB

Baytex Energy's (BTE.TO, BTE) on Friday said its notice of intention to renew its normal course issuer bid (NCIB) has been accepted by the Toronto Stock Exchange.The renewed NCIB allows Baytex to buy back up to 70.9-million shares during the 12-month period starting July 2. On June 19, the company had 712.6-million shares outstanding.Baytex also entered into an automatic share purchase plan with BMO allowing it to purchase common shares under the NCIB when the company would ordinarily not be permitted to purchase shares due to regulatory restrictions and customary self-imposed blackout periods.Shares of the company were last seen down 0.4% to C$5.64 on the Toronto Stock Exchange.Price: $5.62, Change: $-0.05, Percent Change: -0.88%

Baytex Energy Target Raised To C$8.50 from $7.50, Keeps Outperform at National Bank On "Solid Foundation and an Even Better Plan" From Q1 Update