Should Baytex Energy Trust (NYSE:BTE) Shares Be Watched After RBC Capital Mkts Initiates Coverage?


Why Has RBC Capital Mkts Given Baytex Energy Trust (NYSE:BTE) a $8.0 Price Target

Equity analysts at RBC Capital Mkts began issuing coverage on Baytex Energy Trust (NYSE:BTE) with a key “Sector Perform” rating. The target price per share for BTE is now $8.0. It suggests a possible upside of 104.08% from firm’s last stock price.

From a total of 7 analysts covering Baytex Energy Trust (NYSE:BTE) stock, 3 rate it a ”Buy”, 0 a “Sell”, and 5 a ”Hold”. This means that 38% of the ratings are positive. The highest target price is $8.96 while the lowest target price is $6.72. The mean of all analyst targets is $7.39 with a 231.63% above today’s ($3.92) stock price. Baytex Energy Trust was the topic of 17 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. IBC downgraded shares on September 23 to “Sector Perform” rating. National Bank Canada downgraded shares to “Sector Perform” rating and $11 target share price in a report from an August 24. Raymond James maintained BTE stock in a recent report from August 26 with “Market Perform” rating. Finally, Altacorp downgraded the stock to “Sector Perform” rating in a report issued on an August 24.

The stock decreased 6.56% or $0.28 on December 4, striking $3.92. Approximately shares of stock traded hands. Baytex Energy Corp (USA) (NYSE:BTE) has declined 79.51% since May 4, 2015 and is downtrending. It has underperformed by 78.43% the S&P500.

Should Baytex Energy Trust (NYSE:BTE) Shares Be Watched After RBC Capital Mkts Initiates Coverage?

Baytex Energy Corp. , through its subsidiaries, is engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (primarily in the provinces of Alberta and Saskatchewan) and in the United States (primarily in the state of Texas). The company has a market cap of $815.74 million. The Company’s natural gas and crude oil activities are organized into three business units: Central; Lloydminster; and United States. It currently has negative earnings. Each business unit has a portfolio of mineral leases, operated and non-operated properties and development prospects.

According to Zacks Investment Research, “Baytex Energy Trust is a conventional oil and gas income trust focused on maintaining its production and asset base through internal property development and delivering consistent returns to its unitholders.” Get a free copy of the Zacks research report on Baytex Energy Corp (USA) (BTE).