Barclays Downgrades Baytex Energy to Equal Weight (BTE)
Baytex Energy (TSE:BTE) was downgraded by equities research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Tuesday, American Banking and Market News reports. They currently have a C$46.00 price objective on the stock, down from their previous price objective of C$48.00. Barclays’ target price suggests a potential upside of 5.75% from the company’s current price.
Baytex Energy (TSE:BTE) traded down 1.26% during mid-day trading on Tuesday, hitting $42.95. 276,879 shares of the company’s stock traded hands. Baytex Energy has a 52 week low of $36.37 and a 52 week high of $48.08. The stock’s 50-day moving average is $40.35 and its 200-day moving average is $41.74. The company has a price-to-earnings ratio of 51.18.
Separately, analysts at TD Securities raised their price target on shares of Baytex Energy from C$43.00 to C$44.00 in a research note to investors on Thursday, August 15th. They now have a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of C$49.57.
Baytex Energy Corp. (TSE:BTE), through its subsidiaries, are engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (in the provinces of British Columbia, Alberta and Saskatchewan) and in the United States (in the states of North Dakota and Wyoming).
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