Scotiabank Raises Baytex Energy (OTCMKTS:BTEGF) Price Target to C$9.00

Baytex Energy (OTCMKTS:BTEGF – Get Rating) had its target price raised by equities researchers at Scotiabank from C$6.75 to C$9.00 in a report issued on Wednesday, The Fly reports.

A number of other equities research analysts have also weighed in on BTEGF. CIBC boosted their price target on Baytex Energy from C$7.00 to C$8.00 in a research note on Thursday, April 14th. TD Securities boosted their price target on Baytex Energy from C$6.50 to C$7.50 in a research note on Friday, April 29th. Zacks Investment Research lowered Baytex Energy from a “buy” rating to a “hold” rating in a research report on Friday, May 13th. Royal Bank of Canada upped their target price on Baytex Energy from C$6.00 to C$7.00 in a research report on Monday, May 2nd. Finally, BMO Capital Markets upped their target price on Baytex Energy from C$8.00 to C$8.50 in a research report on Friday, April 29th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.70.

Shares of BTEGF stock traded up $0.40 during trading hours on Wednesday, reaching $6.65. 938,682 shares of the company’s stock were exchanged, compared to its average volume of 465,830. Baytex Energy has a 1 year low of $1.38 and a 1 year high of $6.75. The stock has a market cap of $3.79 billion, a PE ratio of 2.76 and a beta of 2.37. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.58. The stock’s fifty day moving average price is $5.08 and its two-hundred day moving average price is $4.16.

Baytex Energy (OTCMKTS:BTEGF – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.07). Baytex Energy had a return on equity of 29.82% and a net margin of 80.01%. The business had revenue of $531.97 million for the quarter. On average, equities analysts expect that Baytex Energy will post 0.68 EPS for the current fiscal year.

About Baytex Energy (Get Rating)

Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Texas, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas. Its principal oil and natural gas properties comprise the Eagle Ford property in Texas, Viking and Lloydminster properties in Alberta and Saskatchewan, Peace River and Duvernay properties in Alberta.

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