Baytex Energy (TSE:BTE) Price Target Cut to C$5.00 by Analysts at CIBC

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

A number of other analysts also recently weighed in on BTE. Canaccord Genuity Group reduced their target price on shares of Baytex Energy from C$6.50 to C$6.00 in a report on Tuesday, October 22nd. National Bankshares dropped their price target on shares of Baytex Energy from C$8.00 to C$7.50 in a research note on Friday, September 27th. BMO Capital Markets dropped their price target on shares of Baytex Energy from C$6.00 to C$5.50 in a research note on Wednesday, December 4th. Royal Bank of Canada dropped their price target on shares of Baytex Energy from C$5.50 to C$5.00 in a research note on Tuesday, January 14th. Finally, Raymond James raised shares of Baytex Energy to a “hold” rating in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$5.74.

Baytex Energy Stock Performance

Baytex Energy stock opened at C$3.82 on Friday. The company’s 50-day moving average price is C$3.79 and its 200-day moving average price is C$4.28. Baytex Energy has a twelve month low of C$3.15 and a twelve month high of C$5.55. The company has a quick ratio of 0.77, a current ratio of 0.72 and a debt-to-equity ratio of 62.33. The company has a market cap of C$3.08 billion, a PE ratio of -5.54, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61.

Insider Buying and Selling at Baytex Energy

In related news, Senior Officer Nicole Marie Frechette acquired 8,200 shares of the stock in a transaction on Monday, December 9th. The stock was bought at an average cost of C$3.67 per share, with a total value of C$30,094.00. 0.83% of the stock is owned by corporate insiders.

About Baytex Energy

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.