The Materials sector company, Baytex Energy (BTE), has received a rating update from a Wall Street analyst yesterday. The company received a Buy rating from AltaCorp Captial’s analyst Thomas Matthews, with a C$4 price target.
According to TipRanks.com, Matthews is a 1-star analyst with an average return of -2.1% and a 36.1% success rate. Matthews covers the Basic Materials sector, focusing on stocks such as Crescent Point Energy, Bellatrix Exploration, and Obsidian Energy Ltd.
Baytex Energy has an analyst consensus of Strong Buy, with a price target consensus of C$3.92, which is a 74.2% upside from current levels. In a report released yesterday, Macquarie also upgraded the stock to Buy.
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The company has a one-year high of C$6.23 and a one-year low of C$1.87. Currently, Baytex Energy has an average volume of 4.9M.
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$2.25, close to its 52-week low of C$1.87.
