CIBC raises Baytex Energy (OTCMKTS:BTEGF) price target to C$8.00

Baytex Energy (OTCMKTS:BTEGF – Get Assessment) had its price target raised by CIBC from CA$7.00 to CA$8.00 in a report on Thursday, reports The Fly.

The BTEGF has been the subject of several other reports. National Bank Financial upgraded shares of Baytex Energy from a sector performance rating to an outperform rating in a research report on Thursday. National Bankshares raised shares of Baytex Energy to a buy rating and set a price target of $8.75 for the company in a report released Thursday. Scotiabank raised its price target on shares of Baytex Energy from C$4.25 to C$4.50 in a report released Thursday, January 13. Zacks Investment Research downgraded shares of Baytex Energy from a buy rating to a hold rating in a Friday, April 8 report. Finally, Stifel Nicolaus raised his price target on Baytex Energy shares from C$4.75 to C$7.00 in a Monday, February 28 report. Eight research analysts gave the stock a hold rating and three gave the stock a buy rating. According to, the company currently has an average rating of Hold and a consensus target price of $5.56.

BTEGF opened at $5.05 on Thursday. The company’s 50-day moving average is $4.35 and its 200-day moving average is $3.60. Baytex Energy has a 1-year low of $0.97 and a 1-year high of $5.15. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt ratio of 0.63. The company has a market capitalization of $2.87 billion, a P/E ratio of 6.94 and a beta of 2.72.

Baytex Energy (OTCMKTS:BTEGF – Get Rating) last reported results on Thursday, February 24. The company reported EPS of $0.78 for the quarter, beating the consensus estimate of $0.09 by $0.69. Baytex Energy had a net margin of 87.37% and a return on equity of 32.11%. The company posted revenue of $438.25 million for the quarter. On average, stock analysts expect Baytex Energy to post EPS of 0.7 for the current year.

About Baytex Energy (Get an evaluation)

Baytex Energy Corp., an oil and gas company, acquires, develops and produces oil and natural gas in the Western Canadian Sedimentary Basin and Texas, United States. The Company offers light oil and condensate, heavy oil, natural gas liquids and natural gas. Its principal oil and gas properties include Eagle Ford property in Texas, Viking and Lloydminster properties in Alberta and Saskatchewan, Peace River and Duvernay properties in Alberta.

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