TD Securities Upgrades Baytex Energy (TSE:BTE) to “Strong-Buy”

Baytex Energy (TSE:BTE) (NYSE:BTE) was upgraded by analysts at TD Securities from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Friday, Zacks reports.

BTE has been the topic of a number of other reports. Raymond James Financial increased their target price on Baytex Energy from C$8.00 to C$8.50 and gave the stock a “strong-buy” rating in a report on Friday, July 31st. Jefferies Financial Group started coverage on Baytex Energy in a report on Tuesday, October 27th. They issued a “buy” rating and a C$9.00 target price for the company. Finally, National Bank Financial increased their price objective on Baytex Energy from C$8.50 to C$9.50 and gave the company an “outperform” rating in a report on Wednesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Baytex Energy has an average rating of “Moderate Buy” and a consensus target price of C$7.32.

Baytex Energy Trading Down 0.2%

BTE traded down C$0.01 during trading on Friday, reaching C$5.92. 8,087,699 shares of the stock traded hands, compared to its average volume of 5,870,847. The company has a quick ratio of 0.77, a current ratio of 2.82 and a debt-to-equity ratio of 6.94. The stock has a market capitalization of C$4.14 billion, a PE ratio of -6.43, a P/E/G ratio of 0.12 and a beta of 0.69. The stock’s 50-day moving average is C$6.89 and its 200 day moving average is C$6.14. Baytex Energy has a 12 month low of C$3.34 and a 12 month high of C$7.87.

Baytex Energy (TSE:BTE) (NYSE:BTE) last posted its quarterly earnings data on Thursday, November 5th. The company reported C$0.23 earnings per share for the quarter. The firm had revenue of C$511.39 million during the quarter. Baytex Energy had a negative return on equity of 26.41% and a negative net margin of 131.38%. Equities analysts anticipate that Baytex Energy will post 0.37 earnings per share for the current 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.