Analysis: Baytex Energy (TSE:BTE) Target Raised Today
In a very recent research note released by National Bank Financial on Friday, 11 December, the firm, Baytex Energy (TSE:BTE), had their TP cut to $7.00. Analusts currently have a solid “Sector Perform” rating on the stock.
From a total of 16 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 $13.92 while the lowest target price is $4.4. The mean of all analyst targets is $7.05 with a 155.10% above today’s ($3.92) stock price. Baytex Energy Trust was the topic of 10 analyst reports since July 31, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets initiated shares on December 7 with “Sector Perform” rating.
Approximately 3.53M shares of stock traded hands or 6.01% up from the average. Baytex Energy Corp (TSE:BTE) has declined 81.03% since May 8, 2015 and is downtrending. It has underperformed by 78.01% the S&P500.
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 $884.96 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).