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

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective lowered by equities researchers at CIBC from C$6.00 to C$5.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC’s target price points to a potential upside of 30.89% from the company’s current price.

BTE has been the topic of several other research reports. TD Securities decreased their target price on Baytex Energy from C$6.00 to C$5.50 in a research note on Tuesday, October 1st. National Bankshares decreased their target price on Baytex Energy from C$8.00 to C$7.50 in a research note on Friday, September 27th. Raymond James raised Baytex Energy to a “hold” rating in a research note on Thursday, October 17th. Canaccord Genuity Group decreased their target price on Baytex Energy from C$6.50 to C$6.00 in a research note on Tuesday, October 22nd. 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 issued a buy rating to the company. Based on data from MarketBeat.com, Baytex Energy presently has an average rating of “Moderate Buy” and a consensus target price of C$5.74.

Baytex Energy Price Performance

BTE traded up C$0.01 on Friday, hitting C$3.82. 1,632,149 shares of the company’s stock traded hands, compared to its average volume of 4,412,491. The company’s 50 day simple moving average is C$3.80 and its 200-day simple moving average is C$4.29. The firm has a market cap of C$3.08 billion, a price-to-earnings ratio of -5.54, a P/E/G ratio of 0.12 and a beta of 2.61. Baytex Energy has a one year low of C$3.15 and a one year high of C$5.55. The company has a current ratio of 0.72, a quick ratio of 0.77 and a debt-to-equity ratio of 62.33.

Insider Activity

In related news, Senior Officer Nicole Marie Frechette bought 8,200 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were purchased at an average price of C$3.67 per share, with a total value of C$30,094.00. Corporate insiders own 0.83% of the company’s stock.

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.