Baytex Energy (TSE:BTE) Raised to “Strong-Buy” at TD Securities

Baytex Energy (TSE:BTE) (NYSE:BTE) was upgraded by equities research analysts at TD Securities from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday, Zacks reports.

A number of other analysts have also recently commented on BTE. Raymond James Financial boosted their price target on Baytex Energy from C$8.00 to C$8.50 and gave the stock a “strong-buy” rating in a research report on Friday, July 31st. National Bank Financial lifted their price objective on Baytex Energy from C$8.50 to C$9.50 and gave the company an “outperform” rating in a research note on Wednesday, September 30th. Finally, Jefferies Financial Group started coverage on Baytex Energy in a report on Tuesday, October 27th. They issued a “buy” rating and a C$9.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$7.32.

Baytex Energy Stock Down 0.2%

TSE BTE traded down C$0.01 during trading hours on Friday, reaching C$5.92. 8,087,699 shares of the company’s stock traded hands, compared to its average volume of 5,870,847. Baytex Energy has a 52-week low of C$3.34 and a 52-week high of C$7.87. The firm has a market cap of C$4.14 billion, a PE ratio of -6.43, a PEG ratio of 0.12 and a beta of 0.69. The firm has a 50-day simple moving average of C$6.89 and a 200 day simple moving average of C$6.14. The company has a debt-to-equity ratio of 6.94, a current ratio of 2.82 and a quick ratio of 0.77.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its quarterly earnings data on Thursday, November 5th. The company reported C$0.23 earnings per share for the quarter. Baytex Energy had a negative net margin of 131.38% and a negative return on equity of 26.41%. The business had revenue of C$511.39 million for the quarter. Sell-side analysts anticipate that Baytex Energy will post 0.37 EPS for the current fiscal year.

About Baytex Energy

Baytex Energy Corp. is a Calgary -based energy company committed to driving shareholder value through disciplined execution. It operates a high-quality, high-return portfolio in the Western Canadian Sedimentary Basin, featuring the Pembina Duvernay and heavy oil plays in Alberta and Saskatchewan. These core assets are backed by an extensive drilling inventory and consistently generate strong cash flow.