Baytex Energy Receives a Hold from CIBC

By Ryan Adsit

Baytex Energy (TSX: BTE), the Materials sector company, was revisited by a Wall Street analyst today. The company recieved Hold from CIBC’s analyst David Popowich.

According to TipRanks.com, Popowich is ranked #3245 out of 4573 analysts.

Currently, the analyst consensus on Baytex Energy is Moderate Buy and the average price target is C$6.31, representing a 102.2% upside.

In a report issued on June 5, Desjardins also reiterated a Hold rating on the stock with a C$6 price target.

Baytex Energy’s market cap is currently C$775.2M and has a P/E ratio of 0.

Baytex Energy Corp. is an exploration company, which engages in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the U.S. It operates through the following segments: Canada, U.S., and Corporate. The Canada segment includes the exploration for, and the development and production of, crude oil and natural gas in Western Canada. The U.S. segment includes the exploration for, and the development and production of, crude oil and natural gas in the states of Texas and North Dakota. The Corporate segment includes corporate activities and items not allocated between operating segments. The company was founded on October 22, 2010 and is headquartered in Calgary, Canada.

The company’s shares closed last Tuesday at $3.12.