Eight Capital upgraded shares of Baytex Energy (NYSE:BTE) (TSE:BTE) from a neutral rating to a buy rating in a research report report published on Friday morning, The Fly reports. The brokerage currently has $1.15 price objective on the oil and gas producer’s stock.

Other equities research analysts have also recently issued research reports about the company. Tudor Pickering reaffirmed a hold rating and issued a $0.50 price target on shares of Baytex Energy in a report on Friday, May 8th. ValuEngine cut Baytex Energy from a sell rating to a strong sell rating in a report on Tuesday, March 3rd. Credit Suisse Group cut Baytex Energy from an outperform rating to a neutral rating in a report on Tuesday, March 24th. National Bank Financial cut Baytex Energy from an outperform rating to a sector perform rating in a research note on Wednesday, March 11th. Finally, Stifel Firstegy cut Baytex Energy from a buy rating to a hold rating in a research note on Thursday, March 19th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Baytex Energy presently has an average rating of Hold and an average price target of $0.97.

Shares of Baytex Energy stock opened at $0.48 on Friday. The business has a 50 day simple moving average of $0.42 and a two-hundred day simple moving average of $0.73. Baytex Energy has a 12 month low of $0.19 and a 12 month high of $1.78. The stock has a market capitalization of $270.29 million, a P/E ratio of -0.14 and a beta of 3.15. The company has a debt-to-equity ratio of 3.10, a current ratio of 0.89 and a quick ratio of 0.89.

Baytex Energy (NYSE:BTE) (TSE:BTE) last posted its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Baytex Energy had a negative net margin of 148.06% and a positive return on equity of 2.47%. The company had revenue of $250.99 million during the quarter. As a group, research analysts anticipate that Baytex Energy will post -3.49 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in Baytex Energy by 203.9% during the 1st quarter. Royal Bank of Canada now owns 18,957,664 shares of the oil and gas producer’s stock worth $4,426,000 after buying an additional 12,718,838 shares during the last quarter. Morgan Stanley lifted its stake in Baytex Energy by 80.4% in the 1st quarter. Morgan Stanley now owns 21,567,210 shares of the oil and gas producer’s stock valued at $5,037,000 after buying an additional 9,614,078 shares in the last quarter. Invesco Ltd. lifted its stake in Baytex Energy by 49.5% in the 1st quarter. Invesco Ltd. now owns 641,786 shares of the oil and gas producer’s stock valued at $150,000 after buying an additional 212,612 shares in the last quarter. CIBC World Markets Inc. lifted its stake in Baytex Energy by 328.9% in the 1st quarter. CIBC World Markets Inc. now owns 3,937,313 shares of the oil and gas producer’s stock valued at $919,000 after buying an additional 3,019,275 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its stake in Baytex Energy by 43.7% in the 1st quarter. Two Sigma Advisers LP now owns 1,060,102 shares of the oil and gas producer’s stock valued at $248,000 after buying an additional 322,294 shares in the last quarter. Institutional investors and hedge funds own 21.15% of the company’s stock.

Baytex Energy Company Profile

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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