Baytex Energy (NYSE:BTE) (TSE:BTE) was downgraded by research analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research report issued on Friday, The Fly reports.

Several other equities analysts have also recently commented on BTE. Zacks Investment Research raised Baytex Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 7th. ValuEngine raised shares of Baytex Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Raymond James reissued an “average” rating and set a $4.00 price objective on shares of Baytex Energy in a research report on Tuesday, December 18th. TD Securities reissued a “buy” rating and issued a $5.50 price objective on shares of Baytex Energy in a research note on Monday, November 5th. Finally, Royal Bank of Canada reiterated an “average” rating and issued a $5.50 price objective on shares of Baytex Energy in a research note on Tuesday, November 6th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Baytex Energy has an average rating of “Buy” and an average target price of $4.90.

BTE stock opened at $1.97 on Friday. The firm has a market capitalization of $1.12 billion, a PE ratio of -98.50 and a beta of 2.70. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.55 and a current ratio of 0.55. Baytex Energy has a twelve month low of $1.38 and a twelve month high of $4.85.

Baytex Energy (NYSE:BTE) (TSE:BTE) last issued its earnings results on Friday, November 2nd. The oil and gas producer reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. Baytex Energy had a net margin of 1.84% and a negative return on equity of 5.46%. The business had revenue of $334.21 million during the quarter. On average, analysts expect that Baytex Energy will post -0.31 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in BTE. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in shares of Baytex Energy during the 3rd quarter valued at about $45,435,000. Vanguard Group Inc grew its stake in Baytex Energy by 137.9% during the 3rd quarter. Vanguard Group Inc now owns 12,889,037 shares of the oil and gas producer’s stock valued at $37,507,000 after purchasing an additional 7,471,495 shares in the last quarter. Vanguard Group Inc. grew its stake in Baytex Energy by 137.9% during the 3rd quarter. Vanguard Group Inc. now owns 12,889,037 shares of the oil and gas producer’s stock valued at $37,507,000 after purchasing an additional 7,471,495 shares in the last quarter. Waratah Capital Advisors Ltd. acquired a new stake in Baytex Energy during the 3rd quarter valued at approximately $17,159,000. Finally, Mackenzie Financial Corp grew its stake in Baytex Energy by 482.4% during the 3rd quarter. Mackenzie Financial Corp now owns 6,670,706 shares of the oil and gas producer’s stock valued at $19,412,000 after purchasing an additional 5,525,313 shares in the last quarter. Institutional investors and hedge funds own 31.16% of the company’s stock.

Baytex Energy Company Profile

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.

Recommended Story: Technical Analysis of Stocks and What It Means

The Fly

Analyst Recommendations for Baytex Energy (NYSE:BTE)

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