Baytex Energy Corp Given a $58.00 Price Target at CIBC (BTE)
CIBC set a $58.00 target price on shares of Baytex Energy Corp (NYSE:BTE) stock in a research note issued on Thursday. CIBC’s target price points to a potential upside of 32.39% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Baytex Energy Corp in a research note on Tuesday, July 8th. Separately, analysts at Zacks upgraded shares of Baytex Energy Corp from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 8th. They now have a $47.60 price target on the stock. Finally, analysts at Scotiabank reiterated a “sector outperform” rating on shares of Baytex Energy Corp in a research note on Thursday, June 12th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Baytex Energy Corp has a consensus rating of “Buy” and an average price target of $50.43.
Baytex Energy Corp (NYSE:BTE) traded down 0.73% on Thursday, hitting $43.81. The stock had a trading volume of 153,788 shares. Baytex Energy Corp has a 1-year low of $35.30 and a 1-year high of $46.46. The stock’s 50-day moving average is $44.12 and its 200-day moving average is $40.5. The company has a market cap of $5.549 billion and a P/E ratio of 29.28.
Baytex Energy Corp (NYSE:BTE) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.36 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.60 by $0.24. Analysts expect that Baytex Energy Corp will post $2.48 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which is scheduled for Friday, August 15th. Shareholders of record on Thursday, July 31st will be given a dividend of $0.2254 per share. This represents a $2.70 dividend on an annualized basis and a yield of 6.17%. The ex-dividend date of this dividend is Tuesday, July 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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