Baytex Energy (NYSE:BTE) Stock Rating Lowered by ValuEngine

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

Several other equities analysts also recently commented on BTE. Raymond James reissued a “hold” rating and issued a $2.00 target price on shares of Baytex Energy in a report on Monday, November 4th. Royal Bank of Canada lowered their target price on shares of Baytex Energy from $3.00 to $2.50 and set a “buy” rating on the stock in a report on Friday, October 18th. Finally, Credit Suisse Group started coverage on shares of Baytex Energy in a report on Monday, July 15th. They issued an “outperform” rating and a $3.50 target price on the stock. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Baytex Energy presently has an average rating of “Hold” and an average target price of $2.93.

Shares of BTE stock traded down $0.05 during mid-day trading on Friday, hitting $1.26. The company had a trading volume of 887,583 shares, compared to its average volume of 1,920,968. Baytex Energy has a 52-week low of $1.10 and a 52-week high of $2.32. The stock’s 50 day moving average price is $1.34 and its 200-day moving average price is $1.51. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.84. The company has a market capitalization of $714.21 million, a P/E ratio of -14.00 and a beta of 2.56.

Baytex Energy (NYSE:BTE) (TSE:BTE) last released its earnings results on Friday, November 1st. The oil and gas producer reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Baytex Energy had a positive return on equity of 5.17% and a negative net margin of 7.42%. The company had revenue of $321.63 million during the quarter. On average, equities research analysts expect that Baytex Energy will post 0.19 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in BTE. FMR LLC raised its stake in Baytex Energy by 1.4% during the first quarter. FMR LLC now owns 7,163,497 shares of the oil and gas producer’s stock valued at $12,168,000 after purchasing an additional 100,300 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co raised its stake in Baytex Energy by 51.4% during the second quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 2,224,550 shares of the oil and gas producer’s stock valued at $3,451,000 after purchasing an additional 755,200 shares in the last quarter. Swiss National Bank raised its stake in Baytex Energy by 2.8% during the second quarter. Swiss National Bank now owns 1,037,776 shares of the oil and gas producer’s stock valued at $1,609,000 after purchasing an additional 28,100 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in Baytex Energy during the second quarter valued at $6,640,000. Finally, K.J. Harrison & Partners Inc raised its stake in Baytex Energy by 76.5% during the second quarter. K.J. Harrison & Partners Inc now owns 115,400 shares of the oil and gas producer’s stock valued at $179,000 after purchasing an additional 50,000 shares in the last quarter. 19.94% of the stock is currently owned by institutional investors.

About Baytex Energy

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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