Baytex Energy Corp Upgraded to “Overweight” at Barclays (BTE)
Baytex Energy Corp (NYSE:BTE) was upgraded by investment analysts at Barclays from an “equal weight” rating to an “overweight” rating in a note issued to investors on Thursday, American Banking and Market News reports.
A number of other analysts have also recently weighed in on BTE. Analysts at Credit Suisse downgraded shares of Baytex Energy Corp from an “outperform” rating to a “neutral” rating in a research note to investors on Monday. Separately, analysts at Scotiabank reiterated a “sector outperform” rating on shares of Baytex Energy Corp in a research note to investors on Friday, January 10th. Finally, analysts at CIBC reiterated a “sector outperform” rating on shares of Baytex Energy Corp in a research note to investors on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $48.52.
Shares of Baytex Energy Corp (NYSE:BTE) traded up 2.41% during mid-day trading on Thursday, hitting $37.47. The stock had a trading volume of 83,775 shares. Baytex Energy Corp has a 52 week low of $34.71 and a 52 week high of $47.47. The stock’s 50-day moving average is $38.74 and its 200-day moving average is $40.0. The company has a market cap of $4.680 billion and a price-to-earnings ratio of 27.08.
Baytex Energy Corp (NYSE:BTE) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.14. On average, analysts predict that Baytex Energy Corp will post $1.46 earnings per share for the current fiscal year.
Baytex Energy Corp. (NYSE: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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