Baytex Energy (TSE:BTE) Given New C$5.00 Price Target at CIBC

Baytex Energy (TSE:BTE - Get Free Report) NYSE: BTE had its target price dropped by equities research analysts at CIBC from C$6.00 to C$5.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. CIBC's target price indicates a potential upside of 30.89% from the company's previous close.

BTE has been the subject of a number of other research reports. National Bankshares cut their price target on shares of Baytex Energy from C$8.00 to C$7.50 in a report on Friday, September 27th. Canaccord Genuity Group cut their target price on Baytex Energy from C$6.50 to C$6.00 in a research note on Tuesday, October 22nd. Raymond James upgraded Baytex Energy to a "hold" rating in a research note on Thursday, October 17th. Royal Bank of Canada dropped their price objective on Baytex Energy from C$5.50 to C$5.00 in a research report on Tuesday. Finally, BMO Capital Markets reduced their price objective on Baytex Energy from C$6.00 to C$5.50 in a research note on Wednesday, December 4th. 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, the company has an average rating of "Moderate Buy" and an average price target of C$5.74.

Baytex Energy Price Performance

Shares of TSE BTE traded up C$0.01 during mid-day trading on Friday, reaching C$3.82. The company had a trading volume of 2,627,555 shares, compared to its average volume of 4,501,017. The firm has a market cap of C$3.08 billion, a price-to-earnings ratio of -5.54, a PEG ratio of 0.12 and a beta of 2.61. The business's 50-day simple moving average is C$3.79 and its 200 day simple moving average is C$4.28. Baytex Energy has a one year low of C$3.15 and a one year high of C$5.55. The company has a debt-to-equity ratio of 62.33, a quick ratio of 0.77 and a current ratio of 0.72.

Insider Activity

In related news, Senior Officer Nicole Marie Frechette acquired 8,200 shares of the business's stock in a transaction that occurred on Monday, December 9th. The shares were bought at an average cost of C$3.67 per share, with a total value of C$30,094.00. Insiders own 0.83% of the company's stock.

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.