Baytex Energy Corp (NYSE:BTE) Receives Consensus Rating of “Hold” from Brokerages

Baytex Energy Corp (NYSE:BTE) has been assigned an average recommendation of “Hold” from the fifteen research firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $11.11.

Shares of Baytex Energy Corp (NYSE:BTE) traded up 0.93% during midday trading on Monday, hitting $3.27. The stock had a trading volume of 2,176,892 shares. The company’s 50 day moving average is $3.56 and its 200 day moving average is $6.71. Baytex Energy Corp has a 52 week low of $2.50 and a 52 week high of $20.10. The firm’s market cap is $687.56 million.

Baytex Energy Corp (NYSE:BTE) last issued its quarterly earnings data on Friday, November 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.06. The company had revenue of $268.60 million for the quarter, compared to the consensus estimate of $289.87 million. During the same quarter last year, the business earned $0.86 earnings per share. Baytex Energy Corp’s revenue was down 57.7% compared to the same quarter last year. On average, equities analysts predict that Baytex Energy Corp will post ($3.89) earnings per share for the current fiscal year.

BTE has been the subject of a number of analyst reports. RBC Capital initiated coverage on Baytex Energy Corp in a research report on Monday, December 7th. They set a “sector perform” rating and a $8.00 price objective for the company. CIBC downgraded Baytex Energy Corp from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, September 23rd. Canaccord Genuity reiterated a “buy” rating on shares of Baytex Energy Corp in a report on Sunday, November 8th. Scotiabank lowered their target price on Baytex Energy Corp from $18.00 to $12.00 in a report on Tuesday, September 29th. Finally, Barclays reiterated an “equal weight” rating and issued a $6.00 target price (down from $9.00) on shares of Baytex Energy Corp in a report on Saturday, October 31st.

12 Month Chart for NYSE:BTE

Baytex Energy Corp. (NYSE:BTE), through its subsidiaries, is engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (primarily in the provinces of Alberta and Saskatchewan) and in the United States (primarily in the state of Texas). The Company’s crude oil and natural gas operations are organized into three business units: Central; Lloydminster; and United States. Each business unit has a portfolio of mineral leases, operated and non-operated properties and development prospects. The Company’s wholly owned subsidiaries include include Baytex Energy Ltd., which is engaged in the business of oil and natural gas exploration, exploitation, development, acquisition and production in Canada, and Baytex Energy USA, Inc., which is engaged in the business of oil and natural gas exploration, exploitation, development, acquisition and production in the United States.

 

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