Baytex Energy Corp (BTE) Upgraded to “Buy” by GMP Securities

GMP Securities upgraded shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) from a hold rating to a buy rating in a research note issued to investors on Monday.

Other analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Baytex Energy Corp from a sell rating to a hold rating in a research report on Friday, August 11th. BidaskClub lowered shares of Baytex Energy Corp from a hold rating to a sell rating in a research report on Thursday, August 17th. AltaCorp Capital lowered shares of Baytex Energy Corp from an outperform rating to a sector perform rating in a research report on Friday, October 6th. Canaccord Genuity restated a buy rating and set a $4.25 price target on shares of Baytex Energy Corp in a research report on Thursday, November 2nd. Finally, Barclays PLC lowered shares of Baytex Energy Corp from an equal weight rating to an underweight rating in a research report on Monday, October 30th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $6.80.

Shares of Baytex Energy Corp (BTE) traded up $0.01 during trading hours on Monday, reaching $3.30. 2,403,400 shares of the company traded hands, compared to its average volume of 1,732,205. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.92. Baytex Energy Corp has a one year low of $2.13 and a one year high of $5.61.

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Institutional investors have recently bought and sold shares of the company. Paloma Partners Management Co purchased a new stake in shares of Baytex Energy Corp during the first quarter worth about $180,000. KCG Holdings Inc. raised its stake in Baytex Energy Corp by 109.8% in the first quarter. KCG Holdings Inc. now owns 67,821 shares of the oil and gas producer’s stock worth $232,000 after buying an additional 35,497 shares in the last quarter. Bank of Nova Scotia raised its stake in Baytex Energy Corp by 26.2% in the second quarter. Bank of Nova Scotia now owns 104,076 shares of the oil and gas producer’s stock worth $253,000 after buying an additional 21,587 shares in the last quarter. ING Groep NV bought a new position in Baytex Energy Corp in the third quarter worth about $271,000. Finally, Van ECK Associates Corp raised its stake in Baytex Energy Corp 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. Institutional investors own 15.96% of the company’s stock.

About Baytex Energy Corp

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)

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