Baytex Energy (NYSE:BTE) (TSE:BTE) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

BTE has been the subject of a number of other research reports. Royal Bank of Canada upgraded Baytex Energy from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, June 19th. Macquarie upgraded Baytex Energy from a “neutral” rating to an “outperform” rating in a research note on Tuesday, June 19th. TD Securities upgraded Baytex Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, June 19th. Zacks Investment Research downgraded Baytex Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, August 21st. Finally, Raymond James upgraded Baytex Energy to a “hold” rating and set a $5.00 price target for the company in a research note on Thursday, August 23rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $4.69.

BTE stock traded up $0.01 during mid-day trading on Friday, reaching $2.75. 1,442,100 shares of the company traded hands, compared to its average volume of 2,314,230. The company has a market capitalization of $662.76 million, a P/E ratio of -137.50 and a beta of 3.09. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.57 and a current ratio of 0.57. Baytex Energy has a fifty-two week low of $2.30 and a fifty-two week high of $4.85.

Baytex Energy (NYSE:BTE) (TSE:BTE) last released its quarterly earnings results on Tuesday, July 31st. The oil and gas producer reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.15). The company had revenue of $269.39 million for the quarter. Baytex Energy had a negative net margin of 0.55% and a negative return on equity of 8.23%. sell-side analysts forecast that Baytex Energy will post -0.25 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fiera Capital Corp boosted its stake in shares of 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 buying an additional 18,485 shares during the last quarter. Swiss National Bank boosted its stake in shares of Baytex Energy by 6.4% in the 1st quarter. Swiss National Bank now owns 409,900 shares of the oil and gas producer’s stock worth $1,122,000 after buying an additional 24,600 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Baytex Energy by 37.2% in the 2nd quarter. CIBC Asset Management Inc now owns 128,046 shares of the oil and gas producer’s stock worth $426,000 after buying an additional 34,752 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Baytex Energy in the 2nd quarter worth approximately $119,000. Finally, Jane Street Group LLC boosted its stake in shares of 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 buying an additional 37,300 shares during the last quarter. Hedge funds and other institutional investors own 29.68% 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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