Baytex Energy (NYSE:BTE) (TSE:BTE) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Friday, ValuEngine reports.

Other equities research analysts also recently issued research reports about the stock. Credit Suisse Group began coverage on shares of Baytex Energy in a research report on Monday, July 15th. They set an “outperform” rating and a $3.50 price target for the company. Royal Bank of Canada reduced their price target on shares of Baytex Energy from $3.00 to $2.50 and set a “buy” rating for the company in a research report on Friday, October 18th. Finally, Raymond James reissued a “hold” rating and set a $2.00 price target on shares of Baytex Energy in a research report on Monday. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Baytex Energy presently has a consensus rating of “Hold” and a consensus target price of $2.93.

Shares of NYSE BTE traded down $0.05 on Friday, reaching $1.26. 888,000 shares of the company’s stock traded hands, compared to its average volume of 1,920,968. Baytex Energy has a 12 month low of $1.10 and a 12 month high of $2.32. The business’s 50 day simple moving average is $1.34 and its two-hundred day simple moving average is $1.51. The company has a market cap of $714.21 million, a price-to-earnings ratio of -14.00 and a beta of 2.56. The company has a quick ratio of 0.84, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

Baytex Energy (NYSE:BTE) (TSE:BTE) last announced its earnings results on Friday, November 1st. The oil and gas producer reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). Baytex Energy had a negative net margin of 7.42% and a positive return on equity of 5.17%. The business had revenue of $321.63 million for the quarter. Analysts forecast that Baytex Energy will post 0.19 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Luminus Management LLC boosted its holdings in Baytex Energy by 34.2% in the second quarter. Luminus Management LLC now owns 27,621,272 shares of the oil and gas producer’s stock worth $42,819,000 after purchasing an additional 7,035,800 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in Baytex Energy in the second quarter worth approximately $6,640,000. Caymus Capital Partners L.P. purchased a new stake in Baytex Energy in the third quarter worth approximately $4,301,000. CIBC Asset Management Inc boosted its holdings in Baytex Energy by 285.6% in the third quarter. CIBC Asset Management Inc now owns 1,251,579 shares of the oil and gas producer’s stock worth $1,852,000 after purchasing an additional 927,000 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in Baytex Energy by 30.1% in the second quarter. Schroder Investment Management Group now owns 3,740,215 shares of the oil and gas producer’s stock worth $7,593,000 after purchasing an additional 864,596 shares during the last quarter. 19.94% of the stock is owned by institutional investors.

Baytex Energy Company Profile

Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. The company offers light oil, natural gas liquids, shale and natural gas, heavy gravity crude oil, bitumen, and heavy oil.

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Analyst Recommendations for Baytex Energy (NYSE:BTE)

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