Baytex Energy (TSE:BTE) PT Lowered to C$3.00
Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective lowered by Royal Bank of Canada from C$3.50 to C$3.00 in a research note issued on Thursday, BayStreet.CA reports. Royal Bank of Canada’s price target points to a potential upside of 59.57% from the company’s current price.
Several other brokerages also recently issued reports on BTE. Laurentian reduced their price target on shares of Baytex Energy from C$5.50 to C$5.00 in a report on Thursday, June 27th. CSFB reissued a “neutral” rating and set a C$32.00 price target on shares of Vermilion Energy in a report on Tuesday. Raymond James reissued a “hold” rating on shares of PrairieSky Royalty in a report on Thursday, July 11th. Canaccord Genuity raised shares of Nuvista Energy to a “buy” rating in a report on Tuesday, April 9th. Finally, National Bank Financial reduced their price target on shares of Yangarra Resources from C$5.50 to C$5.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Baytex Energy has an average rating of “Buy” and a consensus target price of C$3.88.
Shares of BTE opened at C$1.88 on Thursday. Baytex Energy has a 1 year low of C$1.74 and a 1 year high of C$6.10. The firm has a market capitalization of $1.05 billion and a P/E ratio of -3.22. The company has a current ratio of 0.86, a quick ratio of 0.75 and a debt-to-equity ratio of 70.19. The company’s fifty day moving average price is C$1.99.
About Baytex Energy
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.
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