Baytex Energy (BTE) Upgraded by GMP Securities to “Buy”

GMP Securities upgraded shares of Baytex Energy (NYSE:BTE) (TSE:BTE) from a hold rating to a buy rating in a report released on Friday morning.

Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Baytex Energy from a hold rating to a buy rating and set a $3.25 price objective on the stock in a research report on Tuesday, January 2nd. ValuEngine downgraded shares of Baytex Energy from a sell rating to a strong sell rating in a research report on Thursday, March 1st. Finally, AltaCorp Capital raised shares of Baytex Energy from a sector perform rating to an outperform rating in a research report on Wednesday, February 14th. Five research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $4.42.

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Baytex Energy (NYSE:BTE) opened at $2.91 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.74 and a debt-to-equity ratio of 0.88. The stock has a market cap of $688.51, a price-to-earnings ratio of 6.47 and a beta of 3.32. Baytex Energy has a 1 year low of $2.13 and a 1 year high of $3.63.

Baytex Energy (NYSE:BTE) (TSE:BTE) last issued its quarterly earnings data on Tuesday, March 6th. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.03. The business had revenue of $302.19 million for the quarter, compared to the consensus estimate of $278.72 million. Baytex Energy had a net margin of 10.56% and a negative return on equity of 0.82%. The company’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.66) EPS. equities research analysts predict that Baytex Energy will post -0.44 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in BTE. Vanguard Group Inc. grew its position in shares of Baytex Energy by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 4,593,778 shares of the oil and gas producer’s stock worth $11,163,000 after buying an additional 150,013 shares during the period. Ninepoint Partners LP purchased a new stake in shares of Baytex Energy in the 3rd quarter worth about $1,716,000. ING Groep NV purchased a new stake in shares of Baytex Energy in the 3rd quarter worth about $271,000. JPMorgan Chase & Co. grew its position in shares of Baytex Energy by 776.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,171,372 shares of the oil and gas producer’s stock worth $9,641,000 after buying an additional 2,809,730 shares during the period. Finally, Schroder Investment Management Group grew its position in shares of Baytex Energy by 3.3% in the 3rd quarter. Schroder Investment Management Group now owns 3,126,500 shares of the oil and gas producer’s stock worth $11,849,000 after buying an additional 98,700 shares during the period. 21.51% of the stock is currently owned by hedge funds and other institutional investors.

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Baytex Energy Company Profile

Baytex Energy Corp. (Baytex) is engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (Alberta and Saskatchewan) and in the United States (Texas). The Company’s crude oil and natural gas operations are organized into four business units: Lloydminster, Peace River, Conventional and United States.

Analyst Recommendations for Baytex Energy (NYSE:BTE)

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