Baytex Energy (TSE:BTE) Reaches New 52-Week High on Analyst Upgrade

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) shares hit a new 52-week high during mid-day trading 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 trading hands. The stock had previously closed at C$1.46.

A number of other research firms also recently issued reports on BTE. TD Securities lifted their price target on shares of Baytex Energy from C$1.50 to C$1.65 and gave the company a “hold” rating in a research report on Friday, April 30th. Raymond James lifted their price objective on Baytex Energy from C$1.75 to C$2.25 and gave the stock an “outperform” rating in a report on Friday, April 30th. BMO Capital Markets upped their target price 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 Bankshares lifted their price target on Baytex Energy from C$1.75 to C$2.00 and gave the stock a “sector perform” rating in a research note on Friday, April 30th. Finally, National Bank Financial upped their price target on shares of Baytex Energy from C$1.75 to C$2.00 and gave the company a “sector perform” rating in a report on Friday, April 30th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of C$1.49.

The firm has a fifty day moving average price of C$1.34 and a 200-day moving average price of C$0.95. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 322.39. The firm 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 released its earnings results on Wednesday, February 24th. The company reported C($0.09) earnings per share for the quarter. The company had revenue of C$233.64 million during the quarter. Equities research analysts anticipate that Baytex Energy Corp. will post 0.15 earnings per share for the current fiscal year.

About Baytex Energy (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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