Baytex Energy Corp (BTE) Receives ‘Analyst’ Rating

Baytex Energy Corp (BTE) : Zacks Investment Research ranks Baytex Energy Corp (BTE) as 3, which is a Hold recommendation. 2 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. A total of 4 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 6 research analysts is 2.33, which indicates as a Buy.

Baytex Energy Corp (BTE) stock is expected to deviate a maximum of $4.24 from the average target price of $7.5 for the short term period. 6 Street Experts have initiated coverage on the stock with the most promising target being $16 and the most muted being $4.

Baytex

Also, In a research note released to the investors, Barclays maintains its rating on Baytex Energy Corp (NYSE:BTE).The analysts at the brokerage house have a current rating of Equal-weight on the shares. In a recent information released to the investors, Barclays lowers the new price target from $9 per share to $8 per share. The rating by the firm was issued on July 29, 2016.

Baytex Energy Corp (NYSE:BTE): The stock opened in the green at $4.05 on Thursday, but the bulls found it difficult to push the prices higher. The stock reached a high of $4.17 and a low of $3.951 for the day. The stock did not find buyers even at the lows and closed at $3.96 recording a loss of -1.74%. 2,417,410 shares exchanged hands during the trading day. The stock had closed at $4.03 in the previous days trading.

Baytex Energy Corp. (Baytex), through its subsidiaries, is engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (primarily in the provinces of Alberta and Saskatchewan) and in the United States (primarily in the state of Texas). The Companys crude oil and natural gas operations are organized into three business units: Central; Lloydminster; and United States. Each business unit has a portfolio of mineral leases, operated and non-operated properties and development prospects. The Companys wholly owned subsidiaries include include Baytex Energy Ltd., which is engaged in the business of oil and natural gas exploration, exploitation, development, acquisition and production in Canada, and Baytex Energy USA, Inc., which is engaged in the business of oil and natural gas exploration, exploitation, development, acquisition and production in the United States.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.