Baytex Energy Corp (NYSE:BTE) (TSE:BTE) shares gapped up prior to trading on Wednesday . The stock had previously closed at $1.79, but opened at $1.86. Baytex Energy shares last traded at $1.93, with a volume of 2064162 shares trading hands.
A number of research analysts have issued reports on BTE shares. ValuEngine upgraded Baytex Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. CIBC reissued a “buy” rating and set a $5.75 price target on shares of Baytex Energy in a research note on Wednesday, November 21st. TD Securities reissued a “buy” rating on shares of Baytex Energy in a research note on Monday, December 17th. 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 reissued an “average” rating and set a $4.00 price target on shares of Baytex Energy in a research note on Tuesday, December 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. Baytex Energy has a consensus rating of “Buy” and a consensus price target of $5.04.
The company has a market cap of $1.07 billion, a P/E ratio of -97.50 and a beta of 2.70. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.55 and a quick ratio of 0.55.
Baytex Energy (NYSE:BTE) (TSE:BTE) last announced its quarterly earnings results on Friday, November 2nd. The oil and gas producer reported $0.05 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $334.21 million for the quarter. As a group, equities research analysts anticipate that Baytex Energy Corp will post -0.31 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of BTE. SG Americas Securities LLC acquired a new position in shares of Baytex Energy in the second quarter worth approximately $336,000. Russell Investments Group Ltd. acquired a new position in shares of Baytex Energy in the second quarter worth approximately $119,000. PNC Financial Services Group Inc. lifted its stake in shares of Baytex Energy by 9,348.8% in the second quarter. PNC Financial Services Group Inc. now owns 245,670 shares of the oil and gas producer’s stock worth $818,000 after acquiring an additional 243,070 shares during the period. FMR LLC lifted 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 during the period. Finally, Renaissance Technologies LLC lifted 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 during the period. 31.16% of the stock is currently owned by institutional investors.
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About Baytex Energy (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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