Baytex Energy (BTE) Lowered by ValuEngine to Sell

Baytex Energy (BTE) Lowered by ValuEngine to Sell

ValuEngine downgraded shares of Baytex Energy (NYSE:BTE) (TSE:BTE) from a hold rating to a sell rating in a report released on Friday, September 14th.

BTE has been the subject of a number of other reports. National Bank Financial upgraded Baytex Energy from a sector perform rating to an outperform rating in a report on Monday, July 23rd. Macquarie upgraded Baytex Energy from a neutral rating to an outperform rating in a report on Wednesday, June 27th. Scotiabank raised Baytex Energy from a sector perform rating to an outperform rating in a report on Thursday, August 23rd. Royal Bank of Canada raised Baytex Energy from a sector perform rating to an outperform rating in a report on Tuesday, June 19th. Finally, Zacks Investment Research raised 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. The company presently has an average rating of Buy and an average price target of $4.69.

Shares of NYSE BTE traded up $0.07 during trading on Friday, reaching $2.89. The stock had a trading volume of 1,934,200 shares, compared to its average volume of 2,305,194. Baytex Energy has a fifty-two week low of $2.30 and a fifty-two week high of $4.85. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $1.62 billion, a PE ratio of -144.00 and a beta of 3.08.

Baytex Energy (NYSE:BTE) (TSE:BTE) last issued its quarterly earnings data on Tuesday, July 31st. The oil and gas producer reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.15). The firm had revenue of $269.39 million during the quarter. Baytex Energy had a negative net margin of 0.55% and a negative return on equity of 8.23%. On average, equities analysts predict that Baytex Energy will post -0.25 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in shares of Baytex Energy in the 2nd quarter valued at about $119,000. AMP Capital Investors Ltd purchased a new stake in shares of Baytex Energy in the 2nd quarter valued at about $131,000. Fiera Capital Corp lifted its holdings 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 valued at $140,000 after purchasing an additional 18,485 shares during the last quarter. Jane Street Group LLC lifted its holdings 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 valued at $135,000 after purchasing an additional 37,300 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Baytex Energy in the 2nd quarter valued at about $168,000. 12.66% of the stock is owned by institutional investors and hedge funds.

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.

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