Veritas Investment Research downgraded shares of Baytex Energy (NYSE:BTE) (TSE:BTE) from a buy rating to a sell rating in a report released on Tuesday, January 22nd, The Fly reports.
Other equities analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Baytex Energy from a hold rating to a sell rating in a research note on Monday, January 21st. Raymond James raised shares of Baytex Energy from a market perform rating to an outperform rating in a research note on Monday, November 5th. ValuEngine raised shares of Baytex Energy from a sell rating to a hold rating in a research note on Tuesday, October 2nd. TD Securities reaffirmed a buy rating and set a $5.50 price target on shares of Baytex Energy in a research note on Monday, November 5th. Finally, Royal Bank of Canada reaffirmed an average rating and set a $5.50 price target on shares of Baytex Energy in a research note on Tuesday, November 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $4.90.
Shares of NYSE:BTE opened at $1.65 on Tuesday. Baytex Energy has a 52 week low of $1.38 and a 52 week high of $4.85. The firm has a market capitalization of $871.35 million, a price-to-earnings ratio of -82.50 and a beta of 2.51. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.55 and a quick ratio of 0.55.
About Baytex Energy
Baytex Energy Corp., an oil and gas company, engages in the acquisition, development, and production of oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. It offers heavy oil, heavy gravity crude oil, bitumen, light oil, and natural gas liquids. Its primary oil resource plays include the Eagle Ford in Texas, and the Peace River Oil Sands and Lloydminster heavy oil projects in North America.
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