Baytex Energy Corp (TSE:BTE) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Baytex Energy Corp (TSE:BTE) (NYSE:BTE) have been given a consensus recommendation of “Buy” by the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is C$3.83.
BTE has been the topic of several research reports. Raymond James restated an “outperform” rating and issued a C$3.00 price target on shares of Baytex Energy in a report on Friday, August 2nd. CIBC lowered their price target on Baytex Energy from C$4.25 to C$4.00 in a research note on Thursday, July 18th. CSFB reaffirmed an “outperform” rating and issued a C$3.50 price target on shares of Baytex Energy in a research note on Tuesday, July 16th. Royal Bank of Canada lowered their price target on Baytex Energy from C$3.50 to C$3.00 in a research note on Thursday, July 18th. Finally, Laurentian lowered their price target on Baytex Energy from C$5.00 to C$4.50 in a research note on Wednesday, July 24th.
Shares of BTE stock traded up C$0.10 during trading hours on Tuesday, hitting C$1.87. 3,718,738 shares of the company’s stock traded hands, compared to its average volume of 4,056,156. The stock has a fifty day moving average price of C$1.91. Baytex Energy has a 12-month low of C$1.74 and a 12-month high of C$4.50. The firm has a market cap of $987.48 million and a PE ratio of -8.20. The company has a debt-to-equity ratio of 64.01, a quick ratio of 0.67 and a current ratio of 0.84.
Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. The company offers light oil, natural gas liquids, shale and natural gas, heavy gravity crude oil, bitumen, and heavy oil.
Further Reading: Outstanding Shares and The Effect on Share Price
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