Baytex Energy (BTE) Given New C$4.50 Price Target at CIBC
Baytex Energy (TSE:BTE) (NYSE:BTE) had its price target boosted by investment analysts at CIBC from C$4.00 to C$4.50 in a research report issued on Tuesday. CIBC’s price target would indicate a potential upside of 8.70% from the company’s previous close.
Other research analysts have also issued research reports about the stock. Barclays lifted their price target on shares of Baytex Energy from C$2.50 to C$4.00 in a research report on Wednesday, January 17th. BMO Capital Markets lifted their price target on shares of Baytex Energy from C$3.50 to C$4.00 in a research report on Friday, November 3rd. GMP Securities upgraded shares of Baytex Energy from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$4.00 to C$5.00 in a research report on Monday, November 13th. Eight Capital set a C$5.30 price objective on shares of Baytex Energy and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Finally, AltaCorp Capital upgraded shares of Baytex Energy from a “sector perform” rating to an “outperform” rating in a research report on Monday, January 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of C$4.82.
Baytex Energy (TSE BTE) traded up C$0.07 during trading on Tuesday, reaching C$4.14. 2,652,291 shares of the company’s stock traded hands, compared to its average volume of 3,164,740. The firm has a market capitalization of $1,000.00, a price-to-earnings ratio of -2.57 and a beta of 3.04. Baytex Energy has a 12-month low of C$2.76 and a 12-month high of C$5.97.
In other Baytex Energy news, insider Murray Joseph Desrosiers sold 13,500 shares of Baytex Energy stock in a transaction on Thursday, December 14th. The shares were sold at an average price of C$3.78, for a total transaction of C$51,030.00. Also, Director Mark Bly bought 15,000 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were bought at an average cost of C$2.96 per share, with a total value of C$44,400.00. Over the last quarter, insiders have sold 34,136 shares of company stock worth $136,050.
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About Baytex Energy
Baytex Energy Corp. (Baytex) is engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (Alberta and Saskatchewan) and in the United States (Texas). The Company’s crude oil and natural gas operations are organized into four business units: Lloydminster, Peace River, Conventional and United States.
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