Baytex Energy (BTE) Given “Buy” Rating at Desjardins

Desjardins reissued their buy rating on shares of Baytex Energy (NYSE:BTE) (TSE:BTE) in a report published on Friday.

BTE has been the subject of several other reports. ValuEngine lowered Baytex Energy from a hold rating to a sell rating in a report on Friday, September 14th. National Bank Financial upgraded Baytex Energy from a sector perform rating to an outperform rating in a report on Monday, July 23rd. Scotiabank upgraded Baytex Energy from a sector perform rating to an outperform rating in a report on Thursday, August 23rd. Zacks Investment Research upgraded Baytex Energy from a hold rating to a buy rating and set a $3.75 price target for the company in a report on Tuesday, July 10th. Finally, Raymond James upgraded Baytex Energy to a hold rating and set a $5.00 price target for the company in a report on Thursday, August 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $4.83.

Shares of Baytex Energy stock traded down $0.06 during trading on Friday, hitting $2.06. 5,310,867 shares of the stock traded hands, compared to its average volume of 2,933,714. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.91. Baytex Energy has a twelve month low of $1.90 and a twelve month high of $4.85.

Baytex Energy (NYSE:BTE) (TSE:BTE) last announced its quarterly earnings results on Friday, November 2nd. The oil and gas producer reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.04. The business had revenue of $334.21 million during the quarter. Baytex Energy had a negative return on equity of 8.23% and a negative net margin of 0.55%. Equities research analysts expect that Baytex Energy will post -0.28 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new stake in Baytex Energy in the 2nd quarter worth approximately $119,000. AMP Capital Investors Ltd acquired a new stake in Baytex Energy in the 2nd quarter worth approximately $131,000. Jane Street Group LLC lifted its holdings in Baytex Energy by 310.8% in the 1st quarter. Jane Street Group LLC now owns 49,300 shares of the oil and gas producer’s stock worth $135,000 after purchasing an additional 37,300 shares during the last quarter. Fiera Capital Corp lifted its holdings in Baytex Energy by 77.8% in the 2nd quarter. Fiera Capital Corp now owns 42,235 shares of the oil and gas producer’s stock worth $140,000 after purchasing an additional 18,485 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Baytex Energy in the 2nd quarter worth approximately $168,000. Hedge funds and other institutional investors own 13.22% of the company’s stock.

Baytex Energy Company Profile

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.

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Analyst Recommendations for Baytex Energy (NYSE:BTE)

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