In a new note to investors on August 23, an analyst has provided a rating update for the Materials sector company, Baytex Energy (TSX: BTE). Raymond James’ analyst Chris Cox upgraded BTE to Hold on August 23 , with a C$4.75 price target.
According to TipRanks.com, Cox is ranked #1829 out of 4866 analysts.
Read also: Crude Oil: Sell Now, Buy Later
Baytex Energy has an analyst consensus of Moderate Buy, with a price target consensus of C$6.07.
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 net profit of C$9.27 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 Friday at C$4.32.
