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Other research analysts have also issued reports about the company. Royal Bank of Canada decreased their target price on Baytex Energy from $3.00 to $2.50 and set a buy rating on the stock in a report on Friday, October 18th. Credit Suisse Group initiated coverage on Baytex Energy in a report on Monday, July 15th. They set an outperform rating and a $3.50 target price on the stock. Finally, Raymond James reissued a hold rating and set a $2.00 target price on shares of Baytex Energy in a report on Monday, November 4th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Baytex Energy presently has an average rating of Hold and an average target price of $2.93.
Shares of NYSE:BTE traded down $0.05 during trading on Friday, hitting $1.26. 887,583 shares of the company were exchanged, compared to its average volume of 1,920,968. The stock has a market cap of $714.21 million, a price-to-earnings ratio of -14.00 and a beta of 2.56. Baytex Energy has a fifty-two week low of $1.10 and a fifty-two week high of $2.32. The firm has a fifty day moving average price of $1.34 and a two-hundred day moving average price of $1.51. The company has a current ratio of 0.99, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62.
Baytex Energy (NYSE:BTE) (TSE:BTE) last posted its quarterly earnings results on Friday, November 1st. The oil and gas producer reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). The company had revenue of $321.63 million for the quarter. Baytex Energy had a positive return on equity of 5.17% and a negative net margin of 7.42%. As a group, research analysts predict that Baytex Energy will post 0.19 EPS for the current year.
Several hedge funds have recently bought and sold shares of the stock. Corient Capital Partners LLC increased its holdings in shares of Baytex Energy by 119.9% during the 3rd quarter. Corient Capital Partners LLC now owns 46,961 shares of the oil and gas producer’s stock worth $70,000 after acquiring an additional 25,601 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Baytex Energy by 110.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 61,188 shares of the oil and gas producer’s stock worth $91,000 after acquiring an additional 32,141 shares during the last quarter. Caymus Capital Partners L.P. acquired a new position in shares of Baytex Energy during the 3rd quarter worth approximately $4,301,000. CIBC Asset Management Inc boosted its stake in Baytex Energy by 285.6% in the 3rd quarter. CIBC Asset Management Inc now owns 1,251,579 shares of the oil and gas producer’s stock valued at $1,852,000 after purchasing an additional 927,000 shares during the period. Finally, K.J. Harrison & Partners Inc boosted its stake in Baytex Energy by 80.8% in the 3rd quarter. K.J. Harrison & Partners Inc now owns 208,600 shares of the oil and gas producer’s stock valued at $309,000 after purchasing an additional 93,200 shares during the period. 19.94% of the stock is currently owned by institutional investors and hedge funds.
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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