Baytex Energy (TSE:BTE) Price Target Change
In analysts note revealed by RBC Capital Markets on 3 November, Baytex Energy (TSE:BTE) had its target price boosted to $4.50. The firm now has Sector Perform rating on the stock.
The target increase is well-received by stock speculators, 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% over the last 200 days, while the S&P 500 Index has surged 6.00% in the same time period.
Out of 14 analysts covering Baytex Energy, 5 rate it a Buy, 9 indicate a Hold while 0 suggest a Sell. The highest target is $7.11 and the lowest is $4.11 according to Thomson/First Call. The 12-month mean target is $5.57, which means 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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The post Baytex Energy (TSE:BTE) Had Its Price Objective Raises by Professional Analysts at RBC Capital Markets to $4.50 appeared first on Octafinance.