Is Baytex Energy Corp (TSE:BTE) a Buy or a Sell? What Does RBC Capital Markets Think?


Why Has RBC Capital Markets Given Baytex Energy Corp (TSE:BTE) a $8.00 Price Target

Toronto: Baytex Energy Corp (TSE:BTE) coverage has been initiated with a key ‘Sector Perform’ rating as well as a $8.00 target price per share at RBC Capital Markets. The Estimated Target Price by RBC Capital Markets implies upside of 76.21% from the stock close price.

From a total of 15 analysts covering Baytex Energy Trust (TSE:BTE) stock, 6 rate it a ”Buy”, 1 a “Sell”, and 9 a ”Hold”. This means that 38% of the ratings are positive. The highest target price is $14.19 while the lowest target price is $4.48. The mean of all analyst targets is $7.45 with a 127.53% above today’s ($4.54) stock price. Baytex Energy Trust was the topic of 9 analyst reports since July 31, 2015 according to the firm StockzIntelligence Inc. FirstEnergy Capital maintained shares on August 31 with “Market Perform” rating.

Approximately 2.81M shares of stock traded hands. Baytex Energy Corp (TSE:BTE) has declined 77.26% since May 4, 2015 and is downtrending. It has underperformed by 76.18% the S&P500.

Is Baytex Energy Corp (TSE:BTE) a Buy or a Sell? What Does RBC Capital Markets Think?

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 $940.72 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 (BTE).