Brokerages Set Baytex Energy Corp (BTE) Target Price at $7.17

Baytex Energy Corp (NYSE:BTE) (TSE:BTE) has earned a consensus recommendation of “Hold” from the eleven analysts that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $7.17.

BTE has been the subject of a number of recent analyst reports. UBS AG cut Baytex Energy Corp from a “market perform” rating to an “underperform” rating in a research report on Wednesday, July 5th. Zacks Investment Research upgraded Baytex Energy Corp from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Raymond James Financial, Inc. cut Baytex Energy Corp from a “market perform” rating to an “underperform” rating in a research report on Wednesday, July 5th. Scotiabank cut Baytex Energy Corp from an “outperform” rating to a “sector perform” rating in a research report on Thursday, June 29th. Finally, BidaskClub cut Baytex Energy Corp from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th.

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Baytex Energy Corp by 4.8% during the first quarter. Vanguard Group Inc. now owns 4,443,765 shares of the oil and gas producer’s stock worth $15,198,000 after purchasing an additional 204,913 shares in the last quarter. Timber Hill LLC purchased a new stake in shares of Baytex Energy Corp during the first quarter worth approximately $106,000. Van ECK Associates Corp purchased a new stake in shares of Baytex Energy Corp during the first quarter worth approximately $394,000. Sentry Investments Corp. increased its position in shares of Baytex Energy Corp by 24.9% during the first quarter. Sentry Investments Corp. now owns 767,800 shares of the oil and gas producer’s stock worth $3,486,000 after purchasing an additional 153,000 shares in the last quarter. Finally, Quantitative Investment Management LLC increased its position in shares of Baytex Energy Corp by 194.2% during the first quarter. Quantitative Investment Management LLC now owns 107,400 shares of the oil and gas producer’s stock worth $367,000 after purchasing an additional 70,900 shares in the last quarter. Hedge funds and other institutional investors own 15.96% of the company’s stock.

Baytex Energy Corp (BTE) traded down 3.56% during midday trading on Tuesday, reaching $2.71. 1,296,473 shares of the company traded hands. Baytex Energy Corp has a 1-year low of $2.13 and a 1-year high of $5.61. The stock’s market capitalization is $638.07 million. The firm has a 50-day moving average of $2.62 and a 200-day moving average of $2.91.

Baytex Energy Corp (NYSE:BTE) (TSE:BTE) last announced its quarterly earnings results on Tuesday, August 1st. The oil and gas producer reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.17. The company had revenue of $207.22 million during the quarter. Baytex Energy Corp had a negative return on equity of 5.17% and a negative net margin of 38.91%. On average, analysts predict that Baytex Energy Corp will post ($0.18) earnings per share for the current year.

WARNING: This article was first posted by Transcript Daily and is the property of of Transcript Daily. If you are viewing this article on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this article can be accessed at https://transcriptdaily.com/2017/09/15/brokerages-set-baytex-energy-corp-bte-target-price-at-7-17.html.

Baytex Energy Corp 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 Corp (NYSE:BTE)

Receive News & Ratings for Baytex Energy Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baytex Energy Corp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply