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

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

Other equities research analysts have also recently issued reports about the company. Canaccord Genuity decreased their price objective on Baytex Energy from C$4.50 to C$1.00 in a research note on Tuesday, March 10th. Laurentian Bank of Canada decreased their price objective on Baytex Energy from C$3.50 to C$3.00 in a research note on Wednesday, February 12th. TD Securities decreased their price objective on Baytex Energy from C$0.65 to C$0.50 and set a hold rating for the company in a research note on Friday, March 20th. Laurentian decreased their price objective on Baytex Energy from C$3.50 to C$3.00 in a research note on Wednesday, February 12th. Finally, Tudor Pickering restated a hold rating and set a C$1.75 price objective on shares of Baytex Energy in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. The company has a consensus rating of Hold and an average price target of C$1.70.

Shares of TSE BTE traded down C$0.03 during mid-day trading on Wednesday, reaching C$0.34. 8,050,274 shares of the company were exchanged, compared to its average volume of 6,016,313. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 62.69. The stock has a market cap of $179.36 million and a price-to-earnings ratio of -15.23. Baytex Energy has a 1 year low of C$0.29 and a 1 year high of C$3.13. The firm has a 50-day moving average of C$1.03 and a 200 day moving average of C$1.55.

Baytex Energy (TSE:BTE) (NYSE:BTE) last issued its quarterly earnings data on Wednesday, March 4th. The company reported C$0.05 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.06 by C($0.01). The company had revenue of C$445.90 million during the quarter. On average, equities analysts forecast that Baytex Energy will post 0.0505263 earnings per share for the current 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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