Baytex Energy (NYSE:BTE) Receives Buy Rating from Raymond James

Raymond James reissued their buy rating on shares of Baytex Energy (NYSE:BTE) (TSE:BTE) in a report published on Friday, AnalystRatings.com reports. They currently have a $3.00 target price on the oil and gas producer’s stock.

BTE has been the subject of a number of other research reports. Credit Suisse Group assumed coverage on Baytex Energy in a research report 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 report on Tuesday, July 2nd. Finally, ValuEngine raised Baytex Energy from a sell rating to a hold rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. Baytex Energy currently has an average rating of Hold and a consensus price target of $3.87.

BTE stock traded down $0.03 during trading on Friday, reaching $1.43. 1,370,455 shares of the stock traded hands, compared to its average volume of 1,456,791. The firm’s 50 day simple moving average is $1.48. Baytex Energy has a 52-week low of $1.33 and a 52-week high of $3.44. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm has a market cap of $846.22 million, a price-to-earnings ratio of -15.89 and a beta of 2.53.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Evergreen Capital Management LLC purchased a new stake in shares of Baytex Energy in the first quarter worth about $55,000. Jane Street Group LLC purchased a new stake in shares of Baytex Energy in the fourth quarter worth about $89,000. K.J. Harrison & Partners Inc boosted its position 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 worth $111,000 after buying an additional 45,000 shares during the period. Signition LP purchased a new stake in shares of Baytex Energy in the first quarter worth about $124,000. Finally, Berman Capital Advisors LLC purchased a new stake in shares of Baytex Energy in the first quarter worth about $253,000. 20.29% of the stock is owned by institutional investors.

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.

Featured Story: Sell-Side Analysts

Analyst Recommendations for Baytex Energy (NYSE:BTE)

Receive News & Ratings for Baytex Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baytex Energy and related companies with MarketBeat.com's FREE daily email newsletter.