Baytex Energy (BTE), the Materials sector company was revisited today, and remains undervalued for at least one analyst on the street. The company received a Buy rating from GMP FirstEnergy’s analyst Michael Dunn, with a C$4.75 price target.
According to TipRanks.com, Dunn ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -7.9% and a 36.4% success rate. Dunn covers the Basic Materials sector, focusing on stocks such as Painted Pony Petroleum Ltd, PrairieSky Royalty Ltd, and Crescent Point Energy.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Baytex Energy with a C$3.92 average price target, implying a 59.7% upside from current levels. In a report issued on March 7, Macquarie also upgraded the stock to Buy.
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Based on Baytex Energy’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of C$231 million. In comparison, last year the company had a net profit of C$76.04 million.
Baytex Energy Corp. is an oil and gas exploration & production company, which engages in the acquisition, development and production of crude oil and natural gas. The company was founded on October 22, 2010 and is headquartered in Calgary, Canada.
The company’s shares closed on Thursday at C$2.46, close to its 52-week low of C$1.87.
