CIBC Cuts Baytex Energy (TSE:BTE) Price Target to C$5.00

Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price cut by equities research analysts at CIBC from C$6.00 to C$5.00 in a report released on Friday,BayStreet.CA reports. CIBC’s price objective suggests a potential upside of 30.89% from the company’s previous close.

A number of other analysts have also weighed in on BTE. ATB Capital dropped their price objective on Baytex Energy from C$5.50 to C$5.20 in a research note on Wednesday, December 4th. BMO Capital Markets dropped their price objective on Baytex Energy from C$6.00 to C$5.50 in a research note on Wednesday, December 4th. Canaccord Genuity Group dropped their price objective on Baytex Energy from C$6.50 to C$6.00 in a research note on Tuesday, October 22nd. Royal Bank of Canada dropped their price objective on Baytex Energy from C$5.50 to C$5.00 in a research note on Tuesday. Finally, TD Securities dropped their price objective on Baytex Energy from C$6.00 to C$5.50 in a research note on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$5.74.

Baytex Energy Price Performance

BTE traded up C$0.01 during midday trading on Friday, hitting C$3.82. The stock had a trading volume of 1,632,149 shares, compared to its average volume of 4,412,491. The company has a market cap of C$3.08 billion, a P/E ratio of -5.54, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. The business has a fifty day moving average of C$3.80 and a 200 day moving average of C$4.29. The company has a debt-to-equity ratio of 62.33, a quick ratio of 0.77 and a current ratio of 0.72. Baytex Energy has a 1 year low of C$3.15 and a 1 year high of C$5.55.

Insider Buying and Selling

In other news, Senior Officer Nicole Marie Frechette acquired 8,200 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was acquired at an average price of C$3.67 per share, for a total transaction of C$30,094.00. 0.83% of the stock is currently owned by insiders.

Baytex Energy Company Profile

Baytex Energy Corp., an energy company, engages in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas.