Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price lowered by stock analysts at CIBC from C$2.00 to C$1.75 in a note issued to investors on Wednesday, Analyst Price Targets reports. The brokerage currently has a “neutral” rating on the stock. CIBC’s price target would suggest a potential upside of 33.59% from the stock’s current price.
Several other equities analysts have also recently weighed in on BTE. ATB Capital raised their price target on Baytex Energy from C$0.70 to C$0.85 in a report on Monday, January 11th. Eight Capital upped their target price on Baytex Energy to C$1.75 and gave the stock a “buy” rating in a report on Wednesday, February 17th. TD Securities upped their target price on Baytex Energy from C$0.90 to C$1.30 and gave the stock a “hold” rating in a report on Thursday, February 25th. Canaccord Genuity upped their price target on Baytex Energy from C$1.25 to C$1.50 and gave the stock an “outperform” rating in a research report on Wednesday, March 31st. Finally, Raymond James upped their price target on Baytex Energy from C$1.25 to C$1.75 and gave the stock an “outperform” rating in a research report on Wednesday, March 17th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of C$1.28.
Shares of BTE opened at C$1.31 on Wednesday. The business’s 50 day moving average is C$1.36 and its 200 day moving average is C$0.86. The company has a market capitalization of C$738.73 million and a PE ratio of -0.30. Baytex Energy has a 12-month low of C$0.29 and a 12-month high of C$1.53. The company has a current ratio of 0.57, a quick ratio of 0.54 and a debt-to-equity ratio of 310.12.
Baytex Energy Company Profile
Baytex Energy Corp., an oil and gas company, acquires, develops, and produces 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. Its principal oil and natural gas properties include the Eagle Ford property in Texas, Viking and Lloydminster properties in Alberta and Saskatchewan, Peace River and Duvernay properties in Alberta.
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