Baytex Energy Corp (NYSE:BTE) Receives Average Rating of “Hold” from Brokerages

Baytex Energy Corp (NYSE:BTE) (TSE:BTE) has been given an average recommendation of “Hold” by the nine research firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $2.45.

BTE has been the subject of a number of recent research reports. Royal Bank of Canada lowered their target price on Baytex Energy from $3.00 to $2.50 and set a “buy” rating for the company in a research note on Friday, October 18th. Raymond James reiterated a “hold” rating and issued a $2.00 target price on shares of Baytex Energy in a research note on Monday, November 4th. ValuEngine lowered Baytex Energy from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Finally, Zacks Investment Research lowered Baytex Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 11th.

Hedge funds have recently bought and sold shares of the company. Corient Capital Partners LLC purchased a new position in Baytex Energy in the second quarter valued at about $33,000. D. E. Shaw & Co. Inc. bought a new position in Baytex Energy during the 2nd quarter worth approximately $59,000. Tower Research Capital LLC TRC lifted its holdings in Baytex Energy by 110.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 61,188 shares of the oil and gas producer’s stock worth $91,000 after buying an additional 32,141 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in Baytex Energy by 212.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 105,254 shares of the oil and gas producer’s stock worth $162,000 after buying an additional 71,578 shares during the last quarter. Finally, K.J. Harrison & Partners Inc lifted its holdings in Baytex Energy by 76.5% during the 2nd quarter. K.J. Harrison & Partners Inc now owns 115,400 shares of the oil and gas producer’s stock worth $179,000 after buying an additional 50,000 shares during the last quarter. Institutional investors and hedge funds own 21.99% of the company’s stock.

NYSE:BTE traded up $0.07 on Friday, hitting $1.09. 1,282,994 shares of the stock were exchanged, compared to its average volume of 1,886,013. The stock has a market cap of $602.61 million, a PE ratio of -12.11 and a beta of 2.60. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.62. The stock has a fifty day moving average of $1.19 and a 200-day moving average of $1.41. Baytex Energy has a fifty-two week low of $1.00 and a fifty-two week high of $2.32.

Baytex Energy (NYSE:BTE) (TSE:BTE) last announced its quarterly earnings results on Friday, November 1st. The oil and gas producer reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). The firm had revenue of $321.63 million for the quarter. Baytex Energy had a positive return on equity of 5.17% and a negative net margin of 7.42%. As a group, analysts predict that Baytex Energy will post 0.17 earnings per share for the current year.

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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Analyst Recommendations for Baytex Energy (NYSE:BTE)

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