Baytex Energy Corp (NYSE:BTE) (TSE:BTE) has been assigned an average recommendation of “Buy” from the eleven analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $3.66.
A number of analysts recently weighed in on BTE shares. Macquarie downgraded Baytex Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, January 18th. Raymond James reiterated a “buy” rating on shares of Baytex Energy in a research report on Thursday, March 7th. Veritas Investment Research downgraded Baytex Energy from a “buy” rating to a “sell” rating in a research report on Tuesday, January 22nd. Zacks Investment Research downgraded Baytex Energy from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Finally, TD Securities reiterated a “buy” rating on shares of Baytex Energy in a research report on Monday, December 17th.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Baytex Energy by 137.9% during the third quarter. Vanguard Group Inc. now owns 12,889,037 shares of the oil and gas producer’s stock worth $37,507,000 after purchasing an additional 7,471,495 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of Baytex Energy by 137.9% in the third quarter. Vanguard Group Inc now owns 12,889,037 shares of the oil and gas producer’s stock worth $37,507,000 after acquiring an additional 7,471,495 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in shares of Baytex Energy in the third quarter worth $45,435,000. Norges Bank acquired a new position in shares of Baytex Energy in the fourth quarter worth $13,729,000. Finally, FMR LLC raised its holdings in shares of Baytex Energy by 2.8% in the fourth quarter. FMR LLC now owns 7,063,197 shares of the oil and gas producer’s stock worth $12,469,000 after acquiring an additional 192,710 shares during the last quarter. Institutional investors own 25.31% of the company’s stock.
Shares of Baytex Energy stock traded down $0.05 during trading on Wednesday, reaching $2.13. The company’s stock had a trading volume of 2,068,477 shares, compared to its average volume of 1,862,651. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.73 and a quick ratio of 0.73. Baytex Energy has a 12-month low of $1.38 and a 12-month high of $4.85. The company has a market cap of $1.18 billion, a PE ratio of -23.67 and a beta of 2.56.
Baytex Energy (NYSE:BTE) (TSE:BTE) last posted its quarterly earnings results on Wednesday, March 6th. The oil and gas producer reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.11. Baytex Energy had a negative return on equity of 1.71% and a negative net margin of 22.63%. The firm had revenue of $271.24 million for the quarter. On average, equities research analysts anticipate that Baytex Energy will post 0.14 EPS for the current fiscal year.
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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