In a new note to investors on November 2, an analyst has provided a rating update for Baytex Energy (BTE). Analyst Gregory Pardy from RBC Capital remains bullish on the stock and has a C$5.50 price target.
According to TipRanks.com, Pardy is a 3-star analyst with an average return of 0.9% and a 44.8% success rate. Pardy covers the Basic Materials sector, focusing on stocks such as Imperial Oil Limited, Baytex Energy Corp, and Cenovus Energy Inc.
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Baytex Energy has an analyst consensus of Strong Buy, with a price target consensus of C$5.56, implying a 91.7% upside from current levels. In a report released yesterday, Raymond James also upgraded the stock to Buy with a C$4.75 price target.
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The company has a one-year high of C$6.23 and a one-year low of C$2.49. Currently, Baytex Energy has an average volume of 5.95M.
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 Monday at C$2.90, close to its 52-week low of C$2.49.
