Baytex Energy (BTEGF) Receives a Hold from CIBC

CIBC analyst Dennis Fong reiterated a Hold rating on Baytex Energy (BTEGF) today and set a price target of C$1.75. The company’s shares closed last Monday at $1.28.

According to, Fong has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -4.2% and a 39.7% success rate. Fong covers the Utilities sector, focusing on stocks such as Gran Tierra Energy, Canadian Natural, and Bonterra Energy.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Baytex Energy with a $1.55 average price target, representing a 25.0% upside. In a report issued on April 30, BMO Capital also maintained a Hold rating on the stock with a $1.75 price target.

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Based on Baytex Energy’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $234 million and net profit of $221 million. In comparison, last year the company earned revenue of $446 million and had a GAAP net loss of $118 million.

Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BTEGF in relation to earlier this year.

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Baytex Energy Corp. is an oil and gas exploration & production company, which engages in the acquisition, development and production of crude oil and natural gas. The company was founded on October 22, 2010 and is headquartered in Calgary, Canada.

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