Baytex Energy (TSE:BTE) Stock Rated “Buy” in New Coverage at Jefferies Financial Group

Equities research analysts at Jefferies Financial Group assumed coverage on shares of Baytex Energy (TSE:BTE) (NYSE:BTE) in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The brokerage set a “buy” rating and a C$9.00 price target on the stock. Jefferies Financial Group‘s price objective would indicate a potential upside of 19.68% from the company’s current price.

BTE has been the topic of a number of other research reports. Raymond James Financial raised their price objective on shares of Baytex Energy from C$8.00 to C$8.50 and gave the company a “strong-buy” rating in a research note on Friday, July 31st. National Bank Financial increased their price target on Baytex Energy from C$8.50 to C$9.50 and gave the company an “outperform” rating in a research note on Wednesday, September 30th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$7.32.

Baytex Energy Stock Performance

TSE BTE traded down C$0.13 during trading hours on Tuesday, reaching C$7.52. The company’s stock had a trading volume of 3,381,966 shares, compared to its average volume of 5,858,624. Baytex Energy has a 52 week low of C$3.14 and a 52 week high of C$7.87. The stock has a market cap of C$5.26 billion, a PE ratio of -8.17, a PEG ratio of 0.12 and a beta of 0.60. The company has a current ratio of 2.82, a quick ratio of 0.77 and a debt-to-equity ratio of 6.94. The business has a 50-day simple moving average of C$6.88 and a 200 day simple moving average of C$6.07.

Baytex Energy (TSE:BTE) (NYSE:BTE) last posted its earnings results on Thursday, July 30th. The company reported C$0.24 EPS for the quarter. The firm had revenue of C$564.88 million during the quarter. Baytex Energy had a negative net margin of 131.38% and a negative return on equity of 26.41%. Equities research analysts predict that Baytex Energy will post 0.37 earnings per share for the current fiscal year.

Baytex Energy Company Profile

Baytex Energy Corp. is a Calgary -based energy company committed to driving shareholder value through disciplined execution. It operates a high-quality, high-return portfolio in the Western Canadian Sedimentary Basin, featuring the Pembina Duvernay and heavy oil plays in Alberta and Saskatchewan. These core assets are backed by an extensive drilling inventory and consistently generate strong cash flow.