GMP Securities Upgrades Baytex Energy Corp (BTE) to Buy

Baytex Energy Corp (NYSE:BTE) (TSE:BTE) was upgraded by GMP Securities from a “hold” rating to a “buy” rating in a research note issued on Monday.

A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Baytex Energy Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. Canaccord Genuity reissued a “buy” rating and set a $4.25 target price on shares of Baytex Energy Corp in a research note on Thursday, November 2nd. Barclays PLC lowered shares of Baytex Energy Corp from an “equal weight” rating to an “underweight” rating in a research note on Monday, October 30th. AltaCorp Capital lowered shares of Baytex Energy Corp from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 6th. Finally, ValuEngine lowered shares of Baytex Energy Corp from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $6.80.

Shares of Baytex Energy Corp (NYSE:BTE) opened at $3.07 on Monday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.74 and a current ratio of 0.74. Baytex Energy Corp has a 1 year low of $2.13 and a 1 year high of $5.61.

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Hedge funds have recently added to or reduced their stakes in the stock. Paloma Partners Management Co acquired a new stake in Baytex Energy Corp during the first quarter valued at approximately $180,000. KCG Holdings Inc. raised its holdings in shares of Baytex Energy Corp by 109.8% during the first quarter. KCG Holdings Inc. now owns 67,821 shares of the oil and gas producer’s stock valued at $232,000 after acquiring an additional 35,497 shares during the period. ING Groep NV acquired a new stake in shares of Baytex Energy Corp during the third quarter valued at approximately $271,000. Bank of Nova Scotia raised its holdings in shares of Baytex Energy Corp by 26.2% during the second quarter. Bank of Nova Scotia now owns 104,076 shares of the oil and gas producer’s stock valued at $253,000 after acquiring an additional 21,587 shares during the period. Finally, Van ECK Associates Corp raised its holdings in shares of Baytex Energy Corp by 46.3% during the second quarter. Van ECK Associates Corp now owns 168,906 shares of the oil and gas producer’s stock valued at $410,000 after acquiring an additional 53,451 shares during the period. 15.96% of the stock is owned by institutional investors and hedge funds.

Baytex Energy Corp Company Profile

Baytex Energy Corp. (Baytex) is engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (Alberta and Saskatchewan) and in the United States (Texas). The Company’s crude oil and natural gas operations are organized into four business units: Lloydminster, Peace River, Conventional and United States.

Analyst Recommendations for Baytex Energy Corp (NYSE:BTE)

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