Baytex Energy (NYSE:BTE) Lifted to Buy at GMP Securities

GMP Securities upgraded shares of Baytex Energy (NYSE:BTE) (TSE:BTE) from a hold rating to a buy rating in a research note released on Monday, November 13th.

Several other research firms have also issued reports on BTE. Zacks Investment Research upgraded shares of Baytex Energy from a sell rating to a hold rating in a research report on Tuesday, November 7th. AltaCorp Capital lowered shares of Baytex Energy from an outperform rating to a sector perform rating in a research report on Friday, October 6th. Canaccord Genuity reaffirmed a buy rating and set a $4.25 price objective on shares of Baytex Energy in a research note on Thursday, November 2nd. ValuEngine downgraded shares of Baytex Energy from a sell rating to a strong sell rating in a research note on Friday, September 1st. Finally, Barclays downgraded shares of Baytex Energy from an equal weight rating to an underweight rating in a research note on Monday, October 30th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Baytex Energy has an average rating of Hold and an average target price of $6.80.

Shares of Baytex Energy (NYSE:BTE) opened at $3.52 on Monday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.74 and a quick ratio of 0.74. Baytex Energy has a 1 year low of $2.13 and a 1 year high of $5.61.

Several large investors have recently modified their holdings of BTE. Paloma Partners Management Co bought a new position in shares of Baytex Energy during the first quarter valued at about $180,000. KCG Holdings Inc. raised its stake in shares of Baytex Energy by 109.8% during the first quarter. KCG Holdings Inc. now owns 67,821 shares of the oil and gas producer’s stock valued at $232,000 after acquiring an additional 35,497 shares during the last quarter. Bank of Nova Scotia raised its stake in shares of Baytex Energy by 26.2% during the second quarter. Bank of Nova Scotia now owns 104,076 shares of the oil and gas producer’s stock valued at $253,000 after acquiring an additional 21,587 shares during the last quarter. ING Groep NV bought a new position in Baytex Energy in the third quarter worth about $271,000. Finally, Van ECK Associates Corp raised its stake in Baytex Energy by 46.3% in the second quarter. Van ECK Associates Corp now owns 168,906 shares of the oil and gas producer’s stock worth $410,000 after buying an additional 53,451 shares in the last quarter. 16.48% of the stock is owned by hedge funds and other institutional investors.

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Baytex Energy Company Profile

Baytex Energy Corp. (Baytex) is engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (Alberta and Saskatchewan) and in the United States (Texas). The Company’s crude oil and natural gas operations are organized into four business units: Lloydminster, Peace River, Conventional and United States.

Analyst Recommendations for Baytex Energy (NYSE:BTE)

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