Baytex Energy (TSE:BTE) Rating Increased to Hold at Raymond James

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

BTE has been the topic of a number of other reports. Royal Bank of Canada reduced their target price on shares of Baytex Energy from C$6.50 to C$5.50 in a research report on Tuesday, September 17th. National Bankshares reduced their price objective on Baytex Energy from C$8.00 to C$7.50 in a report on Friday, September 27th. Canaccord Genuity Group upped their target price on Baytex Energy from C$6.25 to C$6.50 in a report on Friday, July 26th. Finally, TD Securities cut their price target on Baytex Energy from C$6.00 to C$5.50 in a research note on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$6.17.

Baytex Energy Stock Down 1.2 %

Shares of TSE BTE opened at C$4.01 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.77 and a debt-to-equity ratio of 62.33. Baytex Energy has a 12-month low of C$3.85 and a 12-month high of C$6.37. The firm’s 50-day moving average price is C$4.43 and its 200-day moving average price is C$4.74. The stock has a market capitalization of C$3.23 billion, a price-to-earnings ratio of -5.81, a P/E/G ratio of 0.12 and a beta of 2.61.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its earnings results on Thursday, July 25th. The company reported C$0.13 earnings per share for the quarter, missing the consensus estimate of C$0.16 by C($0.03). Baytex Energy had a negative net margin of 11.92% and a negative return on equity of 9.55%. The firm had revenue of C$1.13 billion during the quarter, compared to analysts’ expectations of C$1.04 billion.

Insider Activity at Baytex Energy

In other Baytex Energy news, Senior Officer Chadwick Kalmakoff purchased 12,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of C$4.18 per share, with a total value of C$50,160.00. 0.82% of the stock is currently owned by insiders.

Baytex Energy Company Profile

Baytex Energy Corp., an energy company, engages in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas.