Baytex Energy (TSE:BTE:) Stock Target Increased
In an analyst note sent to investors by Raymond James on Friday morning, Baytex Energy (TSE:BTE:) had its target price per share increased to $4.00. The firm right now has Underperform rating on the stock.
The target increase is well received by investors, as TSE:BTE: is at the moment trading 6.85% higher at $3.90 as of 8:10 AM New York time. Baytex Energy shares have [From2] 0% in the last 200 days, while the S&P 500 has risen 6.00% for the same time.
According to data compiled by Thomson Reuters, Baytex Energy (TSE:BTE:)’s stock is covered by 14 equity analysts across the Street, with 0 analysts giving it a Sell rating, 5 a Buy rating, while 9 consider it a Hold. The 12-month consensus target price for the stock is $5.57, which reflects an upside potential of 42.82% over the current price.
Baytex Energy (TSE:BTE:) Profile
Baytex Energy Corp. (Baytex) is engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (Alberta and Saskatchewan) and in the United States (Texas). The Company’s crude oil and natural gas operations are organized into four business units: Lloydminster, Peace River, Conventional and United States. Each business unit has a portfolio of mineral leases, operated and non-operated properties and development prospects.
Baytex Energy (TSE:BTE:) traded up 6.85% on 3 November, hitting $3.9. A total of 5.36 million shares of the company’s stock traded hands. This is up from average of 2.42 million shares. Baytex Energy has a 52 week low of $2.76 and a 52 week high of $7.35. The company has a market cap of $918.26 million and a P/E ratio of 0.
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