Baytex Energy (TSE:BTE) Stock Price Expected to Rise, National Bank Financial Analyst Says

Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price raised by analysts at National Bank Financial from C$8.50 to C$9.50 in a research report issued to clients and investors on Wednesday, BayStreet reports. The brokerage currently has an “outperform” rating on the stock. National Bank Financial’s target price indicates a potential upside of 50.08% from the company’s previous close.

Separately, Raymond James Financial raised their price objective on shares of Baytex Energy from C$8.00 to C$8.50 and gave the stock a “strong-buy” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$7.15.

Baytex Energy Price Performance

Baytex Energy stock opened at C$6.33 on Wednesday. Baytex Energy has a 52-week low of C$3.07 and a 52-week high of C$7.37. The company’s 50 day moving average is C$6.44 and its two-hundred day moving average is C$6.26. The company has a quick ratio of 0.77, a current ratio of 2.82 and a debt-to-equity ratio of 6.94. The firm has a market cap of C$4.43 billion, a PE ratio of -6.88, a price-to-earnings-growth ratio of 0.12 and a beta of 0.39.

Baytex Energy (TSE:BTE) (NYSE:BTE) last posted its quarterly earnings results on Thursday, July 30th. The company reported C$0.24 earnings per share (EPS) for the quarter. Baytex Energy had a negative return on equity of 26.41% and a negative net margin of 131.38%.The company had revenue of C$564.88 million for the quarter. On average, research analysts expect that Baytex Energy will post 0.3703367 EPS for the current fiscal year.

About Baytex Energy

Baytex Energy Corp. is a Calgary -based energy company committed to driving shareholder value through disciplined execution. It operates a high-quality, high-return portfolio in the Western Canadian Sedimentary Basin, featuring the Pembina Duvernay and heavy oil plays in Alberta and Saskatchewan. These core assets are backed by an extensive drilling inventory and consistently generate strong cash flow.