Shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) gapped up prior to trading on Tuesday . The stock had previously closed at $2.31, but opened at $2.21. Baytex Energy shares last traded at $2.15, with a volume of 1746886 shares changing hands.
BTE has been the subject of several research reports. Zacks Investment Research upgraded shares of Baytex Energy from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a report on Tuesday, July 10th. National Bank Financial upgraded shares of Baytex Energy from a “sector perform” rating to an “outperform” rating in a report on Monday, July 23rd. ValuEngine upgraded shares of Baytex Energy from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Scotiabank upgraded shares of Baytex Energy from a “sector perform” rating to an “outperform” rating in a report on Thursday, August 23rd. Finally, Raymond James upgraded shares of Baytex Energy to a “hold” rating and set a $5.00 target price for the company in a report on Thursday, August 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $5.10.
The company has a market capitalization of $1.14 billion, a P/E ratio of -107.50 and a beta of 3.18. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.91.
Baytex Energy (NYSE:BTE) (TSE:BTE) last posted its quarterly earnings results on Friday, November 2nd. The oil and gas producer reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.04. The business had revenue of $334.21 million during the quarter. Baytex Energy had a net margin of 1.84% and a negative return on equity of 6.30%. Research analysts forecast that Baytex Energy Corp will post -0.28 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of BTE. Waratah Capital Advisors Ltd. acquired a new position in shares of Baytex Energy in the third quarter worth $17,159,000. Ninepoint Partners LP acquired a new position in shares of Baytex Energy in the third quarter worth $14,259,000. Renaissance Technologies LLC grew its stake in shares of Baytex Energy by 3,331.2% in the second quarter. Renaissance Technologies LLC now owns 4,172,395 shares of the oil and gas producer’s stock worth $13,876,000 after acquiring an additional 4,050,795 shares in the last quarter. FMR LLC grew its stake in shares of Baytex Energy by 385.1% in the second quarter. FMR LLC now owns 4,367,809 shares of the oil and gas producer’s stock worth $14,519,000 after acquiring an additional 3,467,400 shares in the last quarter. Finally, Intact Investment Management Inc. acquired a new position in shares of Baytex Energy in the third quarter worth $6,957,000. Institutional investors and hedge funds own 15.58% of the company’s stock.
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Baytex Energy Company Profile (NYSE:BTE)
Baytex Energy Corp., an oil and gas company, engages in the acquisition, development, and production of oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. It offers heavy oil, heavy gravity crude oil, bitumen, light oil, and natural gas liquids. Its primary oil resource plays include the Eagle Ford in Texas, and the Peace River Oil Sands and Lloydminster heavy oil projects in North America.
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