Baytex Energy (NYSE:BTE) (TSE:BTE) posted its quarterly earnings results on Thursday. The oil and gas producer reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.04, Morningstar.com reports. The company had revenue of $360.35 million during the quarter. Baytex Energy had a positive return on equity of 1.17% and a negative net margin of 15.71%.
NYSE BTE traded down $0.03 during trading hours on Friday, hitting $1.43. The company had a trading volume of 1,370,455 shares, compared to its average volume of 1,456,791. Baytex Energy has a 52 week low of $1.33 and a 52 week high of $3.44. The company’s 50 day moving average is $1.48. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $846.22 million, a price-to-earnings ratio of -15.89 and a beta of 2.53.
Several research analysts have recently weighed in on BTE shares. Raymond James reiterated a “buy” rating and set a $3.00 price target on shares of Baytex Energy in a research note on Friday. Credit Suisse Group started coverage on Baytex Energy in a research note on Monday, July 15th. They set an “outperform” rating and a $3.50 price target for the company. Zacks Investment Research downgraded Baytex Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, ValuEngine upgraded Baytex Energy from a “sell” rating to a “hold” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Baytex Energy currently has a consensus rating of “Hold” and a consensus price target of $3.87.
About Baytex Energy
Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. The company offers light oil, natural gas liquids, shale and natural gas, heavy gravity crude oil, bitumen, and heavy oil.
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