Baytex Energy (BTE) Price Target Cut to C$5.75

Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price dropped by equities research analysts at CIBC from C$7.00 to C$5.75 in a report issued on Thursday. CIBC’s price target would suggest a potential upside of 132.79% from the company’s previous close.

Several other brokerages also recently weighed in on BTE. Raymond James upgraded Baytex Energy from an “underperform” rating to a “market perform” rating and lowered their price objective for the company from C$5.00 to C$4.75 in a research report on Thursday, August 23rd. BMO Capital Markets lowered their price objective on Baytex Energy from C$5.25 to C$4.75 in a research report on Tuesday, October 9th. Royal Bank of Canada lowered their price objective on Baytex Energy from C$6.00 to C$5.50 and set an “outperform” rating for the company in a research report on Monday, November 5th. TD Securities lowered their price objective on Baytex Energy from C$6.00 to C$5.50 and set a “buy” rating for the company in a research report on Monday, November 5th. Finally, GMP Securities lowered their price objective on Baytex Energy from C$8.00 to C$7.75 in a research report on Monday, November 5th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Baytex Energy has a consensus rating of “Buy” and a consensus price target of C$5.75.

Shares of BTE stock opened at C$2.47 on Thursday. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 63.50. Baytex Energy has a fifty-two week low of C$2.21 and a fifty-two week high of C$6.23.

In other news, Director David Lawrence Pearce sold 66,000 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of C$2.61, for a total transaction of C$172,260.00. Also, insider Edward David Lafehr bought 41,494 shares of Baytex Energy stock in a transaction dated Tuesday, November 20th. The shares were acquired at an average cost of C$2.41 per share, for a total transaction of C$100,000.54.

About Baytex Energy

Baytex Energy Corp., an oil and gas company, engages in the acquisition, development, and production of oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. It offers heavy oil, heavy gravity crude oil, bitumen, light oil, and natural gas liquids. Its primary oil resource plays include the Eagle Ford in Texas, and the Peace River Oil Sands and Lloydminster heavy oil projects in North America.

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Analyst Recommendations for Baytex Energy (TSE:BTE)

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