Baytex Energy Corp (BTE) – What Are Researchers Saying About This Stock?

Baytex Energy Corp (NYSE:BTE) (TSE:BTE) has been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and three have assigned a strong buy recommendation to the company.

Several research firms have weighed in on BTE. TD Securities reissued a “hold” rating on shares of Baytex Energy in a research note on Monday, August 3rd. Zacks Research raised Baytex Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Weiss Ratings upgraded shares of Baytex Energy from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 23rd. Scotiabank restated an “outperform” rating on shares of Baytex Energy in a research report on Monday, October 19th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Baytex Energy in a research note on Friday, October 9th.

Institutional Trading of Baytex Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE bought a new position in shares of Baytex Energy during the second quarter valued at $16,633,000. The Manufacturers Life Insurance Company bought a new stake in shares of Baytex Energy during the second quarter valued at approximately $2,252,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Baytex Energy in the 2nd quarter worth approximately $197,114,000. Encompass Capital Advisors LLC boosted its stake in Baytex Energy by 43.9% during the 1st quarter. Encompass Capital Advisors LLC now owns 20,071,614 shares of the oil and gas producer’s stock valued at $89,695,000 after purchasing an additional 6,123,098 shares during the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in Baytex Energy during the 2nd quarter valued at $1,251,000. 46.15% of the stock is currently owned by hedge funds and other institutional investors.

Baytex Energy Stock Up 0.4%

BTE opened at $5.39 on Friday. The business’s fifty day simple moving average is $4.93 and its 200 day simple moving average is $4.39. Baytex Energy has a 52 week low of $2.23 and a 52 week high of $5.61. The company has a quick ratio of 2.79, a current ratio of 2.82 and a debt-to-equity ratio of 0.06. The stock has a market cap of $3.72 billion, a PE ratio of -8.04 and a beta of 0.40.

Baytex Energy (NYSE:BTE) (TSE:BTE) last released its earnings results on Thursday, July 30th. The oil and gas producer reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.09. Baytex Energy had a negative return on equity of 7.77% and a negative net margin of 26.43%. The company had revenue of $449.32 million during the quarter, compared to the consensus estimate of $218.10 million. As a group, research analysts expect that Baytex Energy will post 0.42 earnings per share for the current fiscal year.

Baytex Energy Company Profile

Baytex Energy Corp. is a Canadian oil and natural gas exploration and production company headquartered in Calgary, Alberta. The company develops and produces crude oil, condensate, natural gas liquids and natural gas.

Baytex’s operations are focused on the Western Canadian Sedimentary Basin in Alberta and Saskatchewan and the Eagle Ford shale in South Texas. Its portfolio includes light oil, heavy oil and natural gas assets, with production sold into North American energy markets.

Founded in 1993, Baytex became a publicly traded corporation in 2010 after operating as an income trust.