Baytex Energy (TSE:BTE) Sets New 52-Week High Following Analyst Upgrade

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE)’s stock price reached a new 52-week high on Monday after Royal Bank of Canada raised their price target on the stock from C$1.50 to C$1.80. Royal Bank of Canada currently has an outperform rating on the stock. Baytex Energy traded as high as C$1.53 and last traded at C$1.52, with a volume of 1271522 shares. The stock had previously closed at C$1.46.

Several other equities research analysts have also issued reports on BTE. Canaccord Genuity increased their target price on shares of Baytex Energy from C$1.25 to C$1.50 and gave the stock an “outperform” rating in a research note on Wednesday, March 31st. BMO Capital Markets raised their price objective on Baytex Energy from C$1.50 to C$1.75 and gave the company a “na” rating in a report on Monday, March 15th. National Bank Financial boosted their price objective on 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. Eight Capital increased their target price on Baytex Energy to C$1.75 and gave the company a “buy” rating in a research report on Wednesday, February 17th. Finally, Scotiabank lifted their price target on shares of Baytex Energy from C$1.60 to C$1.75 in a research note on Friday, April 30th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Baytex Energy currently has a consensus rating of “Hold” and a consensus target price of C$1.49.

The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 322.39. The stock’s fifty day simple moving average is C$1.34 and its 200 day simple moving average is C$0.95. The company has a market cap of C$891.28 million and a price-to-earnings ratio of 36.74.

Baytex Energy (TSE:BTE) (NYSE:BTE) last posted its quarterly earnings results on Wednesday, February 24th. The company reported C($0.09) earnings per share (EPS) for the quarter. The firm had revenue of C$233.64 million during the quarter. On average, analysts predict that Baytex Energy Corp. will post 0.15 EPS for the current year.

Baytex Energy Company Profile (TSE:BTE)

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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