ValuEngine Upgrades Baytex Energy (NYSE:BTE) to “Hold”

Baytex Energy (NYSE:BTE) (TSE:BTE) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Thursday, ValuEngine reports.

Several other research analysts have also weighed in on the company. Raymond James reiterated a “buy” rating and set a $3.00 target price on shares of Baytex Energy in a report on Thursday, July 11th. Zacks Investment Research lowered Baytex Energy from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Credit Suisse Group assumed coverage on Baytex Energy in a report on Monday, July 15th. They set an “outperform” rating and a $3.50 target price on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $3.87.

BTE stock traded down $0.03 during midday trading on Thursday, hitting $1.43. 1,370,455 shares of the company’s stock were exchanged, compared to its average volume of 1,456,791. The stock’s fifty day moving average is $1.48. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $846.22 million, a P/E ratio of -15.89 and a beta of 2.53. Baytex Energy has a one year low of $1.33 and a one year high of $3.44.

Baytex Energy (NYSE:BTE) (TSE:BTE) last posted its earnings results on Thursday, August 1st. The oil and gas producer reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.04. The firm had revenue of $360.35 million for the quarter. Baytex Energy had a positive return on equity of 1.17% and a negative net margin of 15.71%. On average, analysts predict that Baytex Energy will post 0.13 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its holdings in shares of Baytex Energy by 4.9% in the fourth quarter. Bank of America Corp DE now owns 268,698 shares of the oil and gas producer’s stock valued at $472,000 after purchasing an additional 12,547 shares in the last quarter. HRT Financial LLC bought a new stake in shares of Baytex Energy in the fourth quarter valued at about $28,000. Swiss National Bank lifted its holdings in shares of Baytex Energy by 2.8% in the second quarter. Swiss National Bank now owns 1,037,776 shares of the oil and gas producer’s stock valued at $1,609,000 after purchasing an additional 28,100 shares in the last quarter. Evergreen Capital Management LLC bought a new stake in shares of Baytex Energy in the first quarter valued at about $55,000. Finally, K.J. Harrison & Partners Inc lifted its holdings in shares of Baytex Energy by 220.6% in the first quarter. K.J. Harrison & Partners Inc now owns 65,400 shares of the oil and gas producer’s stock valued at $111,000 after purchasing an additional 45,000 shares in the last quarter. Institutional investors own 20.29% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Baytex Energy (NYSE:BTE)

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