Baytex Energy (OTCMKTS:BTEGF) downgraded by Zacks Investment Research
Baytex Energy (OTCMKTS:BTEGF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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 real estate development and delivering consistent returns to its unitholders.”
Other analysts have also published research reports on the company. National Bank Financial raised its target price on Baytex Energy from CA$5.00 to CA$6.50 in a report on Friday, February 4. Royal Bank of Canada raised its target price on Baytex Energy from C$4.00 to C$4.50 and gave the company an “industry performance” rating in a report released on Monday, November 8. Stifel Nicolaus raised his price target on Baytex Energy from C$3.50 to C$5.25 and gave the company a “holding” rating in a Monday, November 8 report. BMO Capital Markets reiterated a “hold” rating on Baytex Energy shares in a research report on Thursday, Dec. 2. Finally, TD Securities cut its price target on Baytex Energy from C$4.50 to C$4.25 and placed a “hold” rating on the stock in a Thursday, Dec. 2 research report. Nine research analysts rated the stock with a hold rating and one gave the stock a buy rating. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $4.64.
BTEGF stock traded down $0.14 on Friday, hitting $3.82. 318,637 shares of the company were traded, against an average volume of 675,033. The stock has a 50-day moving average of $3.40 and a 200-day moving average of $2.87. Baytex Energy has a 12-month low of $0.77 and a 12-month high of $4.14. The company has a market capitalization of $2.16 billion, a PE ratio of 2.12 and a beta of 2.84. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt ratio of 0.93.
About Baytex Energy
Baytex Energy Corp. operates as an oil and gas exploration and production company. It is involved in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and the Eagle Ford in the United States. The company was founded on June 3, 1993 and is headquartered in Calgary, Canada.
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