Yesterday, an analyst has provided a rating update for the Materials sector company, Baytex Energy (BTE). Analyst Jeremy Mccrea from Raymond James rated Baytex Energy (BTE) a Buy, setting a C$4 price target.
According to TipRanks.com, Mccrea is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -20.7% and a 21.9% success rate. Mccrea covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Freehold Royalties Ltd, and PrairieSky Royalty Ltd.
Baytex Energy has an analyst consensus of Strong Buy, with a price target consensus of C$5.03, which is a 107.0% upside from current levels. In a report released today, GMP FirstEnergy also reiterated a Buy rating on the stock with a C$4.50 price target.
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Baytex Energy’s market cap is currently C$1.25B and has a P/E ratio of 0. The company has a Price to Book ratio of 0.40.
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$2.43, close to its 52-week low of C$2.20.
