Baytex Energy Corp (TSE:BTE) had its price target reduced by equities research analysts at Barclays PLC from C$8.00 to C$7.00 in a research note issued to investors on Tuesday. Barclays PLC’s target price would indicate a potential upside of 25.67% from the stock’s current price.
Several other analysts have also commented on BTE. CIBC started coverage on Baytex Energy Corp in a report on Wednesday, June 15th. They issued a “sector perform” rating and a C$9.50 price objective for the company. Desjardins set a C$8.00 price objective on Baytex Energy Corp in a report on Tuesday, June 28th. BMO Capital Markets raised Baytex Energy Corp from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from C$6.00 to C$8.00 in a report on Thursday, June 30th. Scotiabank reaffirmed an “outperform” rating and issued a C$8.75 price objective on shares of Baytex Energy Corp in a report on Thursday, July 14th. Finally, RBC Capital Markets cut their price objective on Baytex Energy Corp from C$8.00 to C$7.00 in a report on Friday, July 29th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of C$7.13.
Baytex Energy Corp (TSE:BTE) opened at 5.57 on Tuesday. Baytex Energy Corp has a 12 month low of $1.57 and a 12 month high of $9.04. The stock’s market cap is $1.18 billion. The stock’s 50 day moving average price is $5.67 and its 200-day moving average price is $6.29.
About Baytex Energy Corp
Baytex Energy Corp. 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 three business units: Lloydminster, Central and United States.
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