Stifel Nicolaus raises Baytex Energy (OTCMKTS:BTEGF) price target to C$9.00


Baytex Energy (OTCMKTS:BTEGF – Get Assessment) saw its price target raised by stock analysts Stifel Nicolaus from C$8.25 to C$9.00 in a research note released Thursday to investors, reports The Fly.

Several other equity research analysts also commented on the stock. BMO Capital Markets raised its price target on shares of Baytex Energy from C$8.00 to C$8.50 in a Friday, April 29 research note. National Bankshares raised shares of Baytex Energy to a “buy” rating and set a target price of $8.75 for the company in a Thursday, April 14 report. Scotiabank raised its price target on shares of Baytex Energy from C$6.75 to C$9.00 in a Wednesday, June 8 research note. National Bank Financial raised its price target on shares of Baytex Energy from C$9.50 to C$10.50 in a Thursday, June 16 research note. Finally, CIBC raised its target price on Baytex Energy from CA$8.00 to CA$10.00 in a Wednesday, June 15 research note. Six analysts rated the stock with a hold rating and three gave the company a buy rating. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $8.44.

Shares of Baytex Energy traded down $0.34 during Thursday’s midday session, hitting $4.93. 456,268 shares were traded, against an average volume of 696,684. Baytex Energy has a 12-month low of $1.38 and a 12-month high of $7.24. The stock has a market capitalization of $2.81 billion, a price-earnings ratio of 2.05 and a beta of 2.37. The company has a 50-day simple moving average of $5.39 and a 200-day simple moving average of $4.44. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt ratio of 0.58.

Baytex Energy (OTCMKTS:BTEGF – Get Rating) last announced its quarterly results on Thursday, April 28. The company reported earnings per share of $0.08 for the quarter, missing analyst consensus estimates of $0.15 per ($0.07). The company had revenue of $531.97 million for the quarter. Baytex Energy had a net margin of 80.01% and a return on equity of 29.82%. Equity research analysts expect Baytex Energy to post earnings per share of 0.79 for the current fiscal year.

Baytex Energy Company Profile (Get a rating)

Baytex Energy Corp., an oil and gas company, acquires, develops and produces oil and natural gas in the Western Canadian Sedimentary Basin and Texas, United States. The Company offers light oil and condensate, heavy oil, natural gas liquids and natural gas. Its principal oil and gas properties include Eagle Ford property in Texas, Viking and Lloydminster properties in Alberta and Saskatchewan, Peace River and Duvernay properties in Alberta.

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