Baytex Energy (TSE:BTE) Stock Rating Upgraded by Raymond James Financial

Baytex Energy (TSE:BTE) (NYSE:BTE) was upgraded by equities research analysts at Raymond James Financial from a “hold” rating to a “moderate buy” rating in a report issued on Thursday,Zacks.com reports.

A number of other brokerages have also weighed in on BTE. Capital One Financial raised Baytex Energy to a “hold” rating in a research note on Monday, October 27th. BMO Capital Markets raised Baytex Energy from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from C$3.00 to C$6.00 in a research report on Thursday. National Bankshares dropped their target price on Baytex Energy from C$4.75 to C$4.50 and set an “outperform” rating for the company in a research note on Wednesday, October 22nd. Finally, Scotiabank raised Baytex Energy from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$4.00 to C$5.25 in a research note on Thursday. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$4.78.

Baytex Energy Price Performance

TSE:BTE opened at C$4.40 on Thursday. Baytex Energy has a 12-month low of C$1.91 and a 12-month high of C$4.55. The firm has a market cap of C$3.38 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 0.12 and a beta of 0.72. The company’s 50-day moving average is C$3.37 and its two-hundred day moving average is C$2.88. 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 posted its quarterly earnings data on Thursday, October 30th. The company reported C$0.04 earnings per share for the quarter. The business had revenue of C$746.42 million during the quarter. Baytex Energy had a negative net margin of 10.45% and a negative return on equity of 8.96%. Research analysts expect that Baytex Energy will post 0.3703367 EPS for the current year.

About Baytex Energy

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.