Baytex Energy (OTCMKTS:BTEGF) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Baytex Energy (OTCMKTS:BTEGF – Get Rating) from a buy rating to a hold rating in a report published on Friday, Zacks.com reports.

According to Zacks, “Baytex Energy Trust is a conventional oil and gas income trust focused on maintaining its production and asset base through internal property development and delivering consistent returns to its unitholders. “

A number of other equities research analysts also recently weighed in on the company. Scotiabank boosted their target price on Baytex Energy from C$6.25 to C$6.75 in a research report on Monday, April 18th. National Bankshares upgraded Baytex Energy to a buy rating and set a $8.75 target price for the company in a research report on Thursday, April 14th. National Bank Financial boosted their target price on Baytex Energy from C$8.75 to C$9.50 in a research report on Friday, April 29th. Royal Bank of Canada upped their price objective on Baytex Energy from C$6.00 to C$7.00 in a report on Monday, May 2nd. Finally, TD Securities upped their price objective on Baytex Energy from C$6.50 to C$7.50 in a report on Friday, April 29th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $7.48.

BTEGF traded up $0.26 during trading on Friday, hitting $4.80. The company’s stock had a trading volume of 448,941 shares, compared to its average volume of 605,621. The firm’s 50 day moving average price is $4.77 and its two-hundred day moving average price is $3.90. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.58. Baytex Energy has a 12 month low of $1.24 and a 12 month high of $5.71. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 5.93 and a beta of 2.37.

Baytex Energy (OTCMKTS:BTEGF – Get Rating) last issued its quarterly earnings data on Thursday, February 24th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.69. Baytex Energy had a return on equity of 29.82% and a net margin of 80.01%. The firm had revenue of $438.25 million during the quarter. On average, sell-side analysts forecast that Baytex Energy will post 0.72 earnings per share for the current year.

About Baytex Energy (Get Rating)

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 Texas, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas. Its principal oil and natural gas properties comprise the Eagle Ford property in Texas, Viking and Lloydminster properties in Alberta and Saskatchewan, Peace River and Duvernay properties in Alberta.

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