Baytex Energy Corp (BTE) Given Average Recommendation of “Buy” by Brokerages

Shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) have earned an average recommendation of “Buy” from the eleven brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $3.66.

BTE has been the topic of several recent research reports. Macquarie cut Baytex Energy from an “outperform” rating to a “neutral” rating in a report on Friday, January 18th. Raymond James reaffirmed a “buy” rating on shares of Baytex Energy in a report on Thursday, March 7th. Veritas Investment Research cut Baytex Energy from a “buy” rating to a “sell” rating in a report on Tuesday, January 22nd. Zacks Investment Research cut Baytex Energy from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Finally, CIBC reaffirmed a “buy” rating and set a $5.75 price objective on shares of Baytex Energy in a report on Wednesday, November 21st.

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc raised its holdings in Baytex Energy by 137.9% during the 3rd quarter. Vanguard Group Inc now owns 12,889,037 shares of the oil and gas producer’s stock valued at $37,507,000 after buying an additional 7,471,495 shares during the period. Vanguard Group Inc. raised its holdings in Baytex Energy by 137.9% during the 3rd quarter. Vanguard Group Inc. now owns 12,889,037 shares of the oil and gas producer’s stock valued at $37,507,000 after buying an additional 7,471,495 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in Baytex Energy during the 3rd quarter valued at $45,435,000. Vertex One Asset Management Inc. purchased a new stake in Baytex Energy during the 3rd quarter valued at $1,200,000. Finally, Blume Capital Management Inc. raised its holdings in Baytex Energy by 182.4% during the 4th quarter. Blume Capital Management Inc. now owns 21,078 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 13,615 shares during the period. Institutional investors own 24.07% of the company’s stock.

Shares of BTE opened at $1.68 on Friday. The company has a market cap of $961.57 million, a PE ratio of -18.67 and a beta of 2.56. Baytex Energy has a 1 year low of $1.38 and a 1 year high of $4.85. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.55 and a current ratio of 0.73.

Baytex Energy (NYSE:BTE) (TSE:BTE) last issued its quarterly earnings data on Wednesday, March 6th. The oil and gas producer reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.11. The business had revenue of $271.24 million for the quarter. Baytex Energy had a negative return on equity of 1.71% and a negative net margin of 22.63%. As a group, equities analysts forecast that Baytex Energy will post 0.12 EPS for the current fiscal year.

About Baytex Energy

Baytex Energy Corp., an oil and gas company, engages in the acquisition, development, and production of oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. It offers heavy oil, heavy gravity crude oil, bitumen, light oil, and natural gas liquids. Its primary oil resource plays include the Eagle Ford in Texas, and the Peace River Oil Sands and Lloydminster heavy oil projects in North America.

Recommended Story: How is the S&P 500 index different from the DJIA?

Analyst Recommendations for Baytex Energy (NYSE:BTE)

Receive News & Ratings for Baytex Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baytex Energy and related companies with MarketBeat.com's FREE daily email newsletter.