Shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) gapped down prior to trading on Thursday . The stock had previously closed at $2.02, but opened at $1.94. Baytex Energy shares last traded at $1.85, with a volume of 2276655 shares trading hands.
A number of equities analysts have commented on BTE shares. ValuEngine raised Baytex Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Scotiabank raised Baytex Energy from a “sector perform” rating to an “outperform” rating in a research note on Thursday, August 23rd. CIBC reissued a “buy” rating and issued a $5.75 price objective on shares of Baytex Energy in a research note on Wednesday, November 21st. Zacks Investment Research lowered Baytex Energy from a “buy” rating to a “sell” rating in a research note on Tuesday, October 23rd. Finally, Raymond James raised Baytex Energy to a “hold” rating and set a $5.00 price target on the stock in a research note on Thursday, August 23rd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Baytex Energy has an average rating of “Buy” and an average price target of $5.21.
The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.64. The company has a market cap of $1.07 billion, a PE ratio of -96.00 and a beta of 3.19.
Baytex Energy (NYSE:BTE) (TSE:BTE) last issued its quarterly earnings results on Friday, November 2nd. The oil and gas producer reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. Baytex Energy had a negative return on equity of 5.46% and a net margin of 1.84%. The business had revenue of $334.21 million for the quarter. Equities research analysts predict that Baytex Energy Corp will post -0.25 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of BTE. Russell Investments Group Ltd. acquired a new position in shares of Baytex Energy during the second quarter valued at $119,000. AMP Capital Investors Ltd acquired a new position in shares of Baytex Energy during the second quarter valued at $131,000. Fiera Capital Corp lifted its stake in Baytex Energy by 77.8% in the second quarter. Fiera Capital Corp now owns 42,235 shares of the oil and gas producer’s stock valued at $140,000 after buying an additional 18,485 shares during the period. Shell Asset Management Co. lifted its stake in Baytex Energy by 131.5% in the third quarter. Shell Asset Management Co. now owns 50,466 shares of the oil and gas producer’s stock valued at $146,000 after buying an additional 28,666 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in Baytex Energy in the second quarter valued at about $168,000. 31.17% of the stock is currently owned by institutional investors and hedge funds.
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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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