Baytex Energy (TSE:BTE) Upgraded to “Hold” at Scotiabank

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

Several other research analysts have also recently issued reports on BTE. CIBC dropped their price objective on Baytex Energy from C$6.00 to C$5.00 in a research note on Friday, January 17th. ATB Capital lowered their target price on Baytex Energy from C$5.50 to C$5.20 in a report on Wednesday, December 4th. Atb Cap Markets lowered Baytex Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 30th. TD Securities lowered their target price on Baytex Energy from C$5.50 to C$5.00 in a report on Wednesday, March 5th. Finally, BMO Capital Markets lowered their target price on Baytex Energy from C$5.00 to C$4.00 in a report on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Baytex Energy has a consensus rating of “Hold” and a consensus price target of C$5.59.

Baytex Energy Stock Down 0.3 %

Shares of TSE:BTE opened at C$3.14 on Wednesday. Baytex Energy has a 52-week low of C$2.74 and a 52-week high of C$5.55. The stock has a market cap of C$2.48 billion, a P/E ratio of -7.15, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. The business’s 50 day moving average is C$3.40 and its 200 day moving average is C$3.83. The company has a quick ratio of 0.77, a current ratio of 0.69 and a debt-to-equity ratio of 57.38.

About Baytex Energy

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.