Royal Bank of Canada restated their average rating on shares of Baytex Energy (NYSE:BTE) (TSE:BTE) in a report released on Tuesday morning. The firm currently has a $5.50 price objective on the oil and gas producer’s stock.
A number of other analysts also recently commented on the company. ValuEngine downgraded Baytex Energy from a hold rating to a sell rating in a report on Friday, September 14th. Scotiabank upgraded Baytex Energy from a sector perform rating to an outperform rating in a report on Thursday, August 23rd. National Bank Financial upgraded Baytex Energy from a sector perform rating to an outperform rating in a report on Monday, July 23rd. Raymond James upgraded Baytex Energy to a hold rating and set a $5.00 price target for the company in a report on Thursday, August 23rd. Finally, Desjardins reiterated a buy rating on shares of Baytex Energy in a report on Friday, November 2nd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $5.10.
BTE stock opened at $1.99 on Tuesday. The firm has a market cap of $1.20 billion, a PE ratio of -99.50 and a beta of 3.18. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.55 and a quick ratio of 0.57. Baytex Energy has a 52 week low of $1.90 and a 52 week high of $4.85.
Baytex Energy (NYSE:BTE) (TSE:BTE) last released its quarterly earnings data on Friday, November 2nd. The oil and gas producer reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $334.21 million during the quarter. Baytex Energy had a negative return on equity of 5.46% and a net margin of 1.84%. On average, analysts forecast that Baytex Energy will post -0.25 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in BTE. Jane Street Group LLC increased its holdings in Baytex Energy by 310.8% in the 1st 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 acquired a new stake in Baytex Energy in the 1st quarter valued at $822,000. Acadian Asset Management LLC acquired a new stake in Baytex Energy in the 2nd quarter valued at $168,000. TD Asset Management Inc. increased its holdings in Baytex Energy by 4.0% in the 2nd 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. increased its holdings in Baytex Energy by 46.7% in the 2nd 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. Hedge funds and other institutional investors own 15.58% of the company’s stock.
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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