CIBC Increases Baytex Energy Corp Price Target to $54.00 (BTE)
Stock analysts at CIBC increased their price objective on shares of Baytex Energy Corp (NYSE:BTE) from $52.00 to $54.00 in a report issued on Thursday, AnalystRatingsNetwork.com reports. The firm currently has a “sector outperform” rating on the stock. CIBC’s price target would suggest a potential upside of 29.16% from the company’s current price.
A number of other firms have also recently commented on BTE. Analysts at RBC Capital reiterated an “outperform” rating on shares of Baytex Energy Corp in a research note to investors on Monday. They now have a $51.00 price target on the stock. Separately, analysts at Barclays downgraded shares of Baytex Energy Corp from an “overweight” rating to an “equal weight” rating in a research note to investors on Tuesday, October 22nd. They now have a $46.00 price target on the stock, down previously from $48.00. Finally, analysts at Zacks upgraded shares of Baytex Energy Corp from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, October 15th. They now have a $43.60 price target on the stock. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Baytex Energy Corp presently has a consensus rating of “Buy” and a consensus price target of $48.83.
Baytex Energy Corp (NYSE:BTE) traded up 0.80% during mid-day trading on Thursday, hitting $41.81. 169,874 shares of the company’s stock traded hands. Baytex Energy Corp has a 52 week low of $34.71 and a 52 week high of $47.47. The stock has a 50-day moving average of $40.90 and a 200-day moving average of $39.48. The company has a market cap of $5.188 billion and a P/E ratio of 48.51.
Baytex Energy Corp (NYSE:BTE) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.67 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.53 by $0.14. On average, analysts predict that Baytex Energy Corp will post $1.46 earnings per share for the current fiscal year.
The company also recently announced a monthly dividend, which is scheduled for Friday, November 15th. Investors of record on Thursday, October 31st will be paid a dividend of $0.21 per share. This represents a $2.54 annualized dividend and a dividend yield of 6.07%. The ex-dividend date is Tuesday, October 29th.
Baytex Energy Corp. (NYSE:BTE), through its subsidiaries, are engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (in the provinces of British Columbia, Alberta and Saskatchewan) and in the United States (in the states of North Dakota and Wyoming).
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