Baytex Energy (TSE:BTE) Price Target Raised to C$9.50

Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price lifted by equities research analysts at National Bank Financial from C$8.50 to C$9.50 in a note issued to investors on Wednesday, BayStreet reports. The firm presently has an “outperform” rating on the stock. National Bank Financial’s price objective would indicate a potential upside of 50.08% from the stock’s current price.

Separately, Raymond James Financial raised their price objective on Baytex Energy from C$8.00 to C$8.50 and gave the stock a “strong-buy” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$7.15.

Baytex Energy Stock Performance

Shares of BTE opened at C$6.33 on Wednesday. Baytex Energy has a 1 year low of C$3.07 and a 1 year high of C$7.37. The company’s 50 day simple moving average is C$6.44 and its 200 day simple moving average is C$6.26. The company has a market capitalization of C$4.43 billion, a price-to-earnings ratio of -6.88, a PEG ratio of 0.12 and a beta of 0.39. The company has a debt-to-equity ratio of 6.94, a quick ratio of 0.77 and a current ratio of 2.82.

Baytex Energy (TSE:BTE) (NYSE:BTE) last released its earnings results on Thursday, July 30th. The company reported C$0.24 EPS for the quarter. The firm had revenue of C$564.88 million during the quarter. Baytex Energy had a negative net margin of 131.38% and a negative return on equity of 26.41%. On average, sell-side analysts predict that Baytex Energy will post 0.3703367 EPS for the current year.

About Baytex Energy

Baytex Energy Corp. is a Calgary -based energy company committed to driving shareholder value through disciplined execution. It operates a high-quality, high-return portfolio in the Western Canadian Sedimentary Basin, featuring the Pembina Duvernay and heavy oil plays in Alberta and Saskatchewan. These core assets are backed by an extensive drilling inventory and consistently generate strong cash flow.