Baytex Energy (TSE:BTE) Cut to Neutral at CSFB

CSFB lowered shares of Baytex Energy (TSE:BTE) (NYSE:BTE) from an outperform rating to a neutral rating in a report issued on Wednesday, BayStreet.CA reports.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada decreased their target price on Baytex Energy from C$0.80 to C$0.60 and set a sector perform rating on the stock in a research report on Sunday. Laurentian decreased their target price on Baytex Energy from C$3.50 to C$3.00 in a research report on Wednesday, February 12th. Tudor Pickering & Holt set a C$1.75 target price on Baytex Energy and gave the company a hold rating in a research report on Wednesday, March 4th. TD Securities decreased their target price on Baytex Energy from C$0.65 to C$0.50 and set a hold rating on the stock in a research report on Friday, March 20th. Finally, Scotiabank downgraded Baytex Energy from an outperform rating to a sector perform rating and decreased their target price for the company from C$3.25 to C$0.75 in a research report on Thursday, March 19th. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the company. Baytex Energy currently has an average rating of Hold and a consensus target price of C$1.70.

BTE stock traded down C$0.03 during mid-day trading on Wednesday, reaching C$0.34. 8,050,274 shares of the company’s stock were exchanged, compared to its average volume of 6,016,313. The company has a market cap of $179.36 million and a price-to-earnings ratio of -15.23. The stock’s 50 day moving average is C$1.03 and its 200 day moving average is C$1.55. The company has a debt-to-equity ratio of 62.69, a current ratio of 0.79 and a quick ratio of 0.77. Baytex Energy has a 12-month low of C$0.29 and a 12-month high of C$3.13.

Baytex Energy (TSE:BTE) (NYSE:BTE) last released its earnings results on Wednesday, March 4th. The company reported C$0.05 earnings per share for the quarter, missing the consensus estimate of C$0.06 by C($0.01). The firm had revenue of C$445.90 million during the quarter. On average, research analysts forecast that Baytex Energy will post 0.0505263 earnings per share for the current fiscal year.

About Baytex Energy

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 (TSE:BTE)

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