Baytex Energy (TSE:BTE) Upgraded by BMO Capital Markets to “Outperform” Rating

Baytex Energy (TSE:BTE) (NYSE:BTE) was upgraded by stock analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report released on Thursday,BayStreet.CA reports. The brokerage currently has a C$6.00 target price on the stock, up from their prior target price of C$3.00. BMO Capital Markets’ price objective suggests a potential upside of 36.99% from the company’s current price.

Several other research firms have also weighed in on BTE. National Bankshares lowered their price objective on shares of Baytex Energy from C$4.75 to C$4.50 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. Capital One Financial upgraded Baytex Energy to a “hold” rating in a research note on Monday, October 27th. Finally, Scotiabank raised Baytex Energy from a “sector perform” rating to an “outperform” rating and raised their price target for the company from C$4.00 to C$5.25 in a report on Thursday. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$4.78.

Baytex Energy Stock Up 3.1%

Shares of BTE stock traded up C$0.13 on Thursday, hitting C$4.38. 13,694,446 shares of the stock were exchanged, compared to its average volume of 5,535,348. The business has a 50-day moving average of C$3.35 and a 200 day moving average of C$2.87. Baytex Energy has a fifty-two week low of C$1.91 and a fifty-two week high of C$4.55. The firm has a market capitalization of C$3.37 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 0.12 and a beta of 0.72. The company has a current ratio of 0.69, a quick ratio of 0.77 and a debt-to-equity ratio of 57.38.

Baytex Energy (TSE:BTE) (NYSE:BTE) last issued its quarterly earnings results on Thursday, October 30th. The company reported C$0.04 EPS for the quarter. The firm had revenue of C$746.42 million for the quarter. Baytex Energy had a negative net margin of 10.45% and a negative return on equity of 8.96%. Equities analysts anticipate that Baytex Energy will post 0.3703367 EPS for the current year.

Baytex Energy Company Profile

Baytex Energy Corp is an oil and gas company. Geographically, the group operates in Canada and the United States. The company derives a majority of revenue from Canada. Its Canada segment includes the exploration, development, and production of crude oil and natural gas in Western Canada.