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Benzinga

Business

Akanksha Bakshi

What's Going On With Baytex Energy Shares Today

TSX BMO Capital RBC Capital Oil

RBC Capital analyst Greg Pardy raised the price target for Baytex Energy Corp (TSX:BTE) (OTC:BTEGF) to C$7 from C$6 while maintaining the Sector Perform rating on the shares.
Pardy notes Baytex is off to a nice start in 2022 amid ongoing debt reduction and impressive drilling results in its emerging Clearwater oil play.
The analyst mentions that the company is also poised to execute a share buyback program.
Recently, BMO Capital analyst Ray Kwan raised the price target for Baytex Energy to C$8.50 from C$8.
Price Action: BTE shares are trading lower by 2.28% at C$6.42 on TSX, and BTEGF is lower by 3.12% at $4.97 on the last check Monday.

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