Shares of Baytex Energy (BTE) were revisited by a Wall Street analyst yesterday. Analyst David Popowich from CIBC remains bullish on the stock and has a C$5.75 price target.
According to TipRanks.com, Popowich ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -5.8% and a 34.4% success rate. Popowich covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Birchcliff Energy Ltd, and Baytex Energy Corp.
Baytex Energy has an analyst consensus of Strong Buy, with a price target consensus of C$5.58.
Based on Baytex Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$27.41 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$2.51, close to its 52-week low of C$2.21.
