Baytex Energy (NYSE:BTE) Earns “Buy” Rating from Raymond James

Raymond James restated their buy rating on shares of Baytex Energy (NYSE:BTE) (TSE:BTE) in a research note released on Thursday morning, AnalystRatings.com reports. Raymond James currently has a $3.00 price objective on the oil and gas producer’s stock.

A number of other research firms have also recently issued reports on BTE. Zacks Investment Research cut shares of EXACT Sciences from a hold rating to a sell rating in a report on Tuesday, July 2nd. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $3.93.

NYSE BTE opened at $1.47 on Thursday. The business has a fifty day moving average of $1.54. Baytex Energy has a 12-month low of $1.37 and a 12-month high of $3.52. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86.

Baytex Energy (NYSE:BTE) (TSE:BTE) last posted its quarterly earnings results on Thursday, May 2nd. The oil and gas producer reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). The company had revenue of $341.05 million during the quarter. Baytex Energy had a positive return on equity of 1.17% and a negative net margin of 15.71%. As a group, equities analysts anticipate that Baytex Energy will post 0.13 earnings per share for the current year.

Several institutional investors have recently modified their holdings of BTE. Norges Bank purchased a new position in shares of Baytex Energy during the fourth quarter worth $13,729,000. Ninepoint Partners LP purchased a new position in shares of Baytex Energy during the first quarter worth $9,887,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in shares of Baytex Energy during the first quarter worth $2,780,000. Royce & Associates LP purchased a new position in shares of Baytex Energy during the fourth quarter worth $1,206,000. Finally, Deutsche Bank AG raised its holdings in shares of Baytex Energy by 30.2% during the fourth quarter. Deutsche Bank AG now owns 2,940,034 shares of the oil and gas producer’s stock worth $5,174,000 after purchasing an additional 681,407 shares during the last quarter. 20.18% of the stock is owned by hedge funds and other institutional investors.

Baytex Energy Company Profile

Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. The company offers light oil, natural gas liquids, shale and natural gas, heavy gravity crude oil, bitumen, and heavy oil.

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Analyst Recommendations for Baytex Energy (NYSE:BTE)

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