Baytex Energy (TSE:BTE) Rating Increased to Sector Perform at Scotiabank

Baytex Energy (TSE:BTE) (NYSE:BTE) was upgraded by equities research analysts at Scotiabank from an “underperform” rating to a “sector perform” rating in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The firm presently has a C$2.25 price target on the stock, up from their previous price target of C$1.75. Scotiabank’s price objective suggests a potential upside of 4.65% from the stock’s previous close.

BTE has been the topic of several other research reports. ATB Capital upgraded shares of Baytex Energy from an “underperform” rating to a “sector perform” rating and upped their target price for the stock from C$1.60 to C$1.75 in a research note on Friday, April 30th. Royal Bank of Canada upped their target price on shares of Baytex Energy from C$1.80 to C$2.20 and gave the stock a “sector perform” rating in a research note on Monday. TD Securities increased their price objective on shares of Baytex Energy from C$1.50 to C$1.65 and gave the company a “hold” rating in a research report on Friday, April 30th. National Bankshares increased their price objective on shares of Baytex Energy from C$1.75 to C$2.00 and gave the company a “sector perform” rating in a research report on Friday, April 30th. Finally, Canaccord Genuity increased their price objective on shares of Baytex Energy from C$1.25 to C$1.50 and gave the company an “outperform” rating in a research report on Wednesday, March 31st. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of C$1.71.

Shares of BTE opened at C$2.15 on Wednesday. The stock has a market capitalization of C$1.21 billion and a PE ratio of 50.00. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 322.39. Baytex Energy has a fifty-two week low of C$0.39 and a fifty-two week high of C$2.20. The business has a 50-day simple moving average of C$1.61.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its quarterly earnings data on Thursday, April 29th. The company reported C($0.06) earnings per share for the quarter. The business had revenue of C$384.70 million for the quarter. On average, sell-side analysts forecast that Baytex Energy will post 0.29 EPS for the current fiscal year.

Baytex Energy Company Profile

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, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas. Its principal oil and natural gas properties include the Eagle Ford property in Texas, Viking and Lloydminster properties in Alberta and Saskatchewan, Peace River and Duvernay properties in Alberta.

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Analyst Recommendations for Baytex Energy (TSE:BTE)

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