Baytex Energy’s (BTE) Buy Rating Reaffirmed at Raymond James

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Raymond James reaffirmed their buy rating on shares of Baytex Energy (NYSE:BTE) (TSE:BTE) in a research report released on Friday, AnalystRatings.com reports. They currently have a $3.00 price target on the oil and gas producer’s stock.

A number of other analysts have also issued reports on the stock. ValuEngine raised shares of Baytex Energy from a sell rating to a hold rating in a research note on Thursday, August 1st. Credit Suisse Group began coverage on shares of Baytex Energy in a research note on Monday, July 15th. They set an outperform rating and a $3.50 target price for the company. Finally, Zacks Investment Research lowered shares of Baytex Energy from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. Baytex Energy currently has an average rating of Hold and a consensus price target of $3.87.

NYSE BTE opened at $1.36 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s fifty day moving average price is $1.48. The stock has a market capitalization of $796.11 million, a price-to-earnings ratio of -15.11 and a beta of 2.53. Baytex Energy has a 52 week low of $1.33 and a 52 week high of $3.44.

Baytex Energy (NYSE:BTE) (TSE:BTE) last posted its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.11 EPS for the quarter, topping the consensus estimate of $0.07 by $0.04. The company had revenue of $360.35 million during the quarter. Baytex Energy had a negative net margin of 6.62% and a positive return on equity of 5.51%. As a group, research analysts anticipate that Baytex Energy will post 0.13 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in Baytex Energy in the fourth quarter worth about $13,729,000. FMR LLC raised its holdings in Baytex Energy by 1.4% in the first quarter. FMR LLC now owns 7,163,497 shares of the oil and gas producer’s stock worth $12,168,000 after purchasing an additional 100,300 shares in the last quarter. Ninepoint Partners LP bought a new position in Baytex Energy in the first quarter worth about $9,887,000. Hillsdale Investment Management Inc. bought a new position in Baytex Energy in the second quarter worth about $6,640,000. Finally, Deutsche Bank AG raised its holdings in Baytex Energy by 30.2% in the fourth quarter. Deutsche Bank AG now owns 2,940,034 shares of the oil and gas producer’s stock worth $5,174,000 after purchasing an additional 681,407 shares in the last quarter. Institutional investors and hedge funds own 20.29% of the company’s stock.

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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