Baytex Energy (TSE:BTE) Upgraded to Moderate Buy at Raymond James Financial

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

Other research analysts have also issued reports about the stock. Capital One Financial upgraded shares of Baytex Energy to a “hold” rating in a research report on Monday, October 27th. National Bankshares reduced their price target on shares of Baytex Energy from C$4.75 to C$4.50 and set an “outperform” rating for the company in a research report on Wednesday, October 22nd. BMO Capital Markets raised Baytex Energy from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from C$3.00 to C$6.00 in a research note on Thursday. Finally, Scotiabank raised Baytex Energy from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from C$4.00 to C$5.25 in a research note on Thursday. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Baytex Energy presently has an average rating of “Moderate Buy” and an average price target of C$4.78.

Baytex Energy Trading Up 3.5%

TSE:BTE opened at C$4.40 on Thursday. Baytex Energy has a 1 year low of C$1.91 and a 1 year high of C$4.55. The company has a debt-to-equity ratio of 57.38, a quick ratio of 0.77 and a current ratio of 0.69. The stock has a fifty day moving average price of C$3.37 and a two-hundred day moving average price of C$2.88. The stock has a market capitalization of C$3.38 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 0.12 and a beta of 0.72.

Baytex Energy (TSE:BTE) (NYSE:BTE) last issued its earnings results on Thursday, October 30th. The company reported C$0.04 EPS for the quarter. The company had revenue of C$746.42 million for the quarter. Baytex Energy had a negative net margin of 10.45% and a negative return on equity of 8.96%. As a group, sell-side analysts anticipate that Baytex Energy will post 0.3703367 earnings per share for the current fiscal 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.