Several other equities analysts have also commented on BTE. Zacks Investment Research upgraded Baytex Energy from a hold rating to a buy rating and set a $3.75 price target on the stock in a research note on Tuesday, July 10th. National Bank Financial raised Baytex Energy from a sector perform rating to an outperform rating in a research report on Monday, July 23rd. ValuEngine raised Baytex Energy from a sell rating to a hold rating in a research report on Thursday, August 2nd. Scotiabank raised Baytex Energy from a sector perform rating to an outperform rating in a research report on Thursday, August 23rd. Finally, Raymond James raised Baytex Energy to a hold rating and set a $5.00 price objective on the stock in a research report on Thursday, August 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $5.00.
Shares of Baytex Energy stock opened at $2.21 on Friday. The firm has a market cap of $1.14 billion, a PE ratio of -110.50 and a beta of 3.18. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.57 and a current ratio of 0.57. Baytex Energy has a 12 month low of $1.90 and a 12 month high of $4.85.
Baytex Energy (NYSE:BTE) (TSE:BTE) last announced its quarterly earnings results on Friday, November 2nd. The oil and gas producer reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. The firm had revenue of $334.21 million for the quarter. Baytex Energy had a negative return on equity of 6.30% and a net margin of 1.84%. Sell-side analysts predict that Baytex Energy will post -0.28 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of BTE. Jane Street Group LLC boosted its position in Baytex Energy by 310.8% during the first quarter. Jane Street Group LLC now owns 49,300 shares of the oil and gas producer’s stock valued at $135,000 after purchasing an additional 37,300 shares in the last quarter. Millennium Management LLC bought a new stake in Baytex Energy during the first quarter valued at about $822,000. Acadian Asset Management LLC bought a new stake in Baytex Energy during the second quarter valued at about $168,000. TD Asset Management Inc. boosted its position in Baytex Energy by 4.0% during the second quarter. TD Asset Management Inc. now owns 977,032 shares of the oil and gas producer’s stock valued at $3,248,000 after purchasing an additional 37,800 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Baytex Energy by 46.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,540,502 shares of the oil and gas producer’s stock valued at $11,762,000 after purchasing an additional 1,127,790 shares in the last quarter. 15.58% of the stock is currently owned by institutional investors.
Baytex Energy Company Profile
Baytex Energy Corp., an oil and gas company, engages in the acquisition, development, and production of oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. It offers heavy oil, heavy gravity crude oil, bitumen, light oil, and natural gas liquids. Its primary oil resource plays include the Eagle Ford in Texas, and the Peace River Oil Sands and Lloydminster heavy oil projects in North America.
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