Zacks Investment Research upgraded shares of Baytex Energy (NYSE:BTE) (TSE:BTE) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

According to Zacks, “Baytex Energy Trust is a conventional oil and gas income trust focused on maintaining its production and asset base through internal property development and delivering consistent returns to its unitholders. “

BTE has been the topic of several other research reports. ValuEngine lowered Baytex Energy from a hold rating to a sell rating in a report on Friday, September 14th. Royal Bank of Canada reissued an average rating and issued a $5.50 target price on shares of Baytex Energy in a report on Tuesday. TD Securities reissued a buy rating and issued a $5.50 target price on shares of Baytex Energy in a report on Monday, November 5th. Raymond James raised Baytex Energy from a market perform rating to an outperform rating in a report on Monday, November 5th. Finally, Desjardins reissued a buy rating on shares of Baytex Energy in a report on Friday, November 2nd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Baytex Energy currently has a consensus rating of Buy and a consensus price target of $5.10.

Baytex Energy stock traded down $0.09 during trading hours on Wednesday, hitting $1.99. The stock had a trading volume of 3,355,726 shares, compared to its average volume of 3,220,512. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.57 and a current ratio of 0.55. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -99.50 and a beta of 3.18. Baytex Energy has a 1-year low of $1.90 and a 1-year high of $4.85.

Baytex Energy (NYSE:BTE) (TSE:BTE) last posted its earnings results on Friday, November 2nd. The oil and gas producer reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.04. The company had revenue of $334.21 million for the quarter. Baytex Energy had a negative return on equity of 5.46% and a net margin of 1.84%. As a group, sell-side analysts forecast that Baytex Energy will post -0.25 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of BTE. Russell Investments Group Ltd. acquired a new stake in shares of Baytex Energy during the second quarter valued at $119,000. AMP Capital Investors Ltd acquired a new stake in shares of Baytex Energy during the second quarter valued at $131,000. Jane Street Group LLC boosted its stake in shares of Baytex Energy by 310.8% during the first quarter. Jane Street Group LLC now owns 49,300 shares of the oil and gas producer’s stock valued at $135,000 after acquiring an additional 37,300 shares during the last quarter. Fiera Capital Corp boosted its stake in shares of Baytex Energy by 77.8% during the second quarter. Fiera Capital Corp now owns 42,235 shares of the oil and gas producer’s stock valued at $140,000 after acquiring an additional 18,485 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Baytex Energy during the second quarter valued at $168,000. 15.58% of the stock is currently owned by institutional investors and hedge funds.

About Baytex Energy

Baytex Energy Corp., an oil and gas company, engages in the acquisition, development, and production of oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. It offers heavy oil, heavy gravity crude oil, bitumen, light oil, and natural gas liquids. Its primary oil resource plays include the Eagle Ford in Texas, and the Peace River Oil Sands and Lloydminster heavy oil projects in North America.

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