Baytex Energy (TSE:BTE) Price Target Raised to C$4.00

Key Points

• Scotiabank has raised its price target for Baytex Energy from C$3.50 to C$4.00, indicating a potential upside of 11.11% from the current price.
• Baytex Energy's stock rose by 0.8% to C$3.60 during midday trading, with significantly higher trading volume than its average.
• The company operates predominantly in Canada and derives most of its revenue from the exploration, development, and production of crude oil and natural gas.

Baytex Energy (TSE:BTE - Get Free Report) NYSE: BTE had its price target lifted by stock analysts at Scotiabank from C$3.50 to C$4.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Scotiabank's target price indicates a potential upside of 11.11% from the company's current price.

Baytex Energy Stock Up 0.8%

Shares of BTE traded up C$0.03 during midday trading on Thursday, hitting C$3.60. The company had a trading volume of 15,837,086 shares, compared to its average volume of 5,425,029. The company's 50 day moving average price is C$3.12 and its 200 day moving average price is C$2.74. The stock has a market cap of C$2.77 billion, a price-to-earnings ratio of 7.66, a PEG ratio of 0.12 and a beta of 0.96. Baytex Energy has a 52 week low of C$1.91 and a 52 week high of C$4.47. The company has a quick ratio of 0.77, a current ratio of 0.69 and a debt-to-equity ratio of 57.38.

Baytex Energy Company Profile

Baytex Energy Corp is an oil and gas company. Geographically, the group operates in Canada and the United States. The company derives a majority of revenue from Canada. Its Canada segment includes the exploration, development, and production of crude oil and natural gas in Western Canada.

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