Scotiabank Upgrades Baytex Energy (TSE:BTE) to “Hold”

Baytex Energy (TSE:BTE) (NYSE:BTE) was upgraded by equities researchers at Scotiabank to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other research analysts also recently issued reports on BTE. Royal Bank of Canada cut their price objective on Baytex Energy from C$5.50 to C$5.00 in a research report on Tuesday, January 14th. Atb Cap Markets cut Baytex Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 30th. ATB Capital decreased their price objective on Baytex Energy from C$5.50 to C$5.20 in a research note on Wednesday, December 4th. BMO Capital Markets dropped their price objective on Baytex Energy from C$5.00 to C$4.00 in a research report on Wednesday, March 5th. Finally, CIBC reduced their target price on shares of Baytex Energy from C$6.00 to C$5.00 in a report on Friday, January 17th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Baytex Energy has an average rating of “Hold” and a consensus price target of C$5.59.

Baytex Energy Stock Performance

TSE:BTE opened at C$3.14 on Wednesday. Baytex Energy has a twelve month low of C$2.74 and a twelve month high of C$5.55. The company has a market capitalization of C$2.48 billion, a P/E ratio of -7.15, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. The company has a current ratio of 0.69, a quick ratio of 0.77 and a debt-to-equity ratio of 57.38. The firm has a 50-day moving average price of C$3.40 and a two-hundred day moving average price of C$3.83.

Baytex Energy Company Profile

Baytex Energy Corp., an energy company, engages in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas.