Credit Suisse Group cut shares of Baytex Energy (NYSE:BTE) (TSE:BTE) from an outperform rating to a neutral rating in a research note issued to investors on Tuesday morning, BenzingaRatingsTable reports.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research lowered Baytex Energy from a hold rating to a sell rating in a research report on Wednesday, March 11th. Royal Bank of Canada dropped their target price on Baytex Energy from $0.80 to $0.60 and set a sector perform rating on the stock in a research report on Friday, March 20th. ValuEngine lowered Baytex Energy from a sell rating to a strong sell rating in a research report on Tuesday, March 3rd. TD Securities lowered Baytex Energy from a buy rating to a hold rating in a research report on Friday, March 13th. Finally, National Bank Financial lowered Baytex Energy from an outperform rating to a sector perform rating in a research report on Wednesday, March 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $1.33.

Shares of NYSE BTE traded up $0.03 during mid-day trading on Tuesday, reaching $0.25. 3,989,424 shares of the company’s stock were exchanged, compared to its average volume of 2,275,521. The firm has a market capitalization of $131.49 million, a price-to-earnings ratio of -25.06 and a beta of 2.56. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $0.81 and a 200 day simple moving average of $1.19. Baytex Energy has a twelve month low of $0.20 and a twelve month high of $2.32.

Baytex Energy (NYSE:BTE) (TSE:BTE) last released its quarterly earnings results on Wednesday, March 4th. The oil and gas producer reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.01). The business had revenue of $337.84 million for the quarter. Baytex Energy had a positive return on equity of 4.47% and a negative net margin of 0.76%. Equities research analysts predict that Baytex Energy will post -0.16 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. Swiss National Bank raised its position in Baytex Energy by 1.6% in the 4th quarter. Swiss National Bank now owns 1,071,376 shares of the oil and gas producer’s stock valued at $1,541,000 after buying an additional 17,000 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in Baytex Energy by 33.2% in the fourth quarter. Great West Life Assurance Co. Can now owns 74,136 shares of the oil and gas producer’s stock valued at $106,000 after purchasing an additional 18,491 shares in the last quarter. Fiera Capital Corp grew its stake in Baytex Energy by 21.9% in the fourth quarter. Fiera Capital Corp now owns 162,842 shares of the oil and gas producer’s stock valued at $235,000 after purchasing an additional 29,240 shares in the last quarter. Virtu Financial LLC grew its stake in Baytex Energy by 168.0% in the fourth quarter. Virtu Financial LLC now owns 49,919 shares of the oil and gas producer’s stock valued at $72,000 after purchasing an additional 31,295 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Baytex Energy by 110.7% in the third quarter. Tower Research Capital LLC TRC now owns 61,188 shares of the oil and gas producer’s stock valued at $91,000 after purchasing an additional 32,141 shares in the last quarter. 24.98% of the stock is currently owned by institutional investors and hedge funds.

About Baytex Energy

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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Analyst Recommendations for Baytex Energy (NYSE:BTE)

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