The Materials sector company, Baytex Energy (TSX: BTE), has received a rating update from a Wall Street analyst on October 9. On October 9, analyst Thomas Matthews gave a Buy rating to BTE and set a C$7 price target.
According to TipRanks.com, Matthews is ranked #678 out of 4897 analysts.
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The word on The Street in general, suggests a Strong Buy analyst consensus rating for Baytex Energy with a C$6.21 average price target.
Based on Baytex Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of C$58.76 million. In comparison, last year the company had a GAAP net loss of C$9.23 million.
Baytex Energy Corp. engages in the acquisition, development, and production of crude oil and natural gas. It operates through the following segments: Canada, United States, and Corporate. The Canada segment explores, develops, and produces crude oil and natural gas in Western Canada.
The company’s shares closed on Thursday at C$3.25, close to its 52-week low of C$2.95.
