Baytex Energy (NYSE:BTE – Get Free Report) (TSE:BTE) was upgraded by TD Securities from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday, Zacks reports.
BTE has been the topic of several other research reports. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Baytex Energy in a research note on Wednesday, September 16th. Wall Street Zen raised shares of Baytex Energy from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Baytex Energy in a research report on Friday, October 9th. Jefferies Financial Group started coverage on Baytex Energy in a research report on Tuesday, October 27th. They issued a “buy” rating for the company. Finally, Weiss Ratings upgraded Baytex Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. Four analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy”.
Check Out Our Latest Report on Baytex Energy
Baytex Energy Stock Performance
NYSE BTE opened at $4.20 on Friday. Baytex Energy has a 52 week low of $2.36 and a 52 week high of $5.61. The company has a 50 day moving average price of $4.91 and a 200 day moving average price of $4.42. The company has a current ratio of 2.82, a quick ratio of 2.79 and a debt-to-equity ratio of 0.06.
Baytex Energy (NYSE:BTE – Get Free Report) (TSE:BTE) last released its earnings results on Thursday, November 5th. The oil and gas producer reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The firm had revenue of $426.40 million for the quarter, compared to analyst estimates of $309.71 million. Baytex Energy had a negative net margin of 26.43% and a negative return on equity of 7.77%. Equities research analysts predict that Baytex Energy will post 0.42 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Maryland State Retirement & Pension System bought a new stake in Baytex Energy in the 3rd quarter valued at $56,000. Capula Management Ltd acquired a new position in Baytex Energy in the first quarter valued at approximately $57,000. StoneX Group Inc. purchased a new position in Baytex Energy in the 3rd quarter valued at approximately $64,000. Commerce Bank purchased a new position in Baytex Energy during the 2nd quarter worth approximately $60,000. Finally, Bank of New York Mellon Corp purchased a new stake in Baytex Energy during the second quarter worth about $60,000. Institutional investors own 46.15% of the company’s stock.
Baytex Energy Company Profile
Baytex Energy Corp. is a Canadian oil and natural gas exploration and production company headquartered in Calgary, Alberta. The company develops and produces crude oil, condensate, natural gas liquids and natural gas.
Baytex’s operations are focused on the Western Canadian Sedimentary Basin in Alberta and Saskatchewan and the Eagle Ford shale in South Texas. Its portfolio includes light oil, heavy oil and natural gas assets, with production sold into North American energy markets.
Founded in 1993, Baytex became a publicly traded corporation in 2010 after operating as an income trust.
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