Baytex Energy (NYSE:BTE) (TSE:BTE) had its price target decreased by Credit Suisse Group from $3.50 to $3.00 in a research note released on Friday, Stock Target Advisor reports. Credit Suisse Group currently has an outperform rating on the oil and gas producer’s stock.
Several other brokerages have also commented on BTE. ValuEngine lowered Baytex Energy from a hold rating to a sell rating in a report on Friday, November 8th. Raymond James reaffirmed a hold rating and set a $2.00 target price on shares of Baytex Energy in a research note on Monday, November 4th. Zacks Investment Research downgraded Baytex Energy from a hold rating to a sell rating in a research note on Monday, November 11th. Finally, Royal Bank of Canada decreased their target price on Baytex Energy from $3.00 to $2.50 and set a buy rating on the stock in a research report on Friday, October 18th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $2.26.
Shares of Baytex Energy stock traded up $0.03 during trading hours on Friday, reaching $1.13. The stock had a trading volume of 2,098,084 shares, compared to its average volume of 1,884,440. The stock’s 50 day moving average is $1.18 and its 200 day moving average is $1.39. The firm has a market capitalization of $630.51 million, a PE ratio of -12.56 and a beta of 2.60. Baytex Energy has a twelve month low of $1.00 and a twelve month high of $2.32. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.62.
Baytex Energy (NYSE:BTE) (TSE:BTE) last posted its earnings results on Friday, November 1st. The oil and gas producer reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). Baytex Energy had a negative net margin of 7.42% and a positive return on equity of 5.17%. The business had revenue of $321.63 million for the quarter. As a group, sell-side analysts predict that Baytex Energy will post 0.17 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BTE. FMR LLC boosted its holdings in Baytex Energy by 1.4% in the 1st quarter. FMR LLC now owns 7,163,497 shares of the oil and gas producer’s stock worth $12,168,000 after buying an additional 100,300 shares during the last quarter. Swiss National Bank boosted its stake in shares of Baytex Energy by 2.8% in the second quarter. Swiss National Bank now owns 1,037,776 shares of the oil and gas producer’s stock worth $1,609,000 after acquiring an additional 28,100 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of Baytex Energy during the second quarter worth approximately $6,640,000. K.J. Harrison & Partners Inc increased its position in shares of Baytex Energy by 76.5% during the second quarter. K.J. Harrison & Partners Inc now owns 115,400 shares of the oil and gas producer’s stock worth $179,000 after purchasing an additional 50,000 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in Baytex Energy by 12.0% in the 2nd quarter. CIBC Asset Management Inc now owns 324,579 shares of the oil and gas producer’s stock valued at $503,000 after purchasing an additional 34,867 shares during the last quarter. Hedge funds and other institutional investors own 21.99% of the company’s stock.
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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