Baytex Energy (NYSE:BTE) (TSE:BTE) announced its quarterly earnings results on Thursday. The oil and gas producer reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04, Morningstar.com reports. The firm had revenue of $360.35 million for the quarter. Baytex Energy had a positive return on equity of 5.51% and a negative net margin of 6.62%.
NYSE BTE traded down $0.03 during trading on Friday, reaching $1.43. 1,370,455 shares of the company’s stock were exchanged, compared to its average volume of 1,584,657. The firm’s 50 day simple moving average is $1.48. The firm has a market capitalization of $812.81 million, a PE ratio of -15.89 and a beta of 2.53. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. Baytex Energy has a fifty-two week low of $1.33 and a fifty-two week high of $3.44.
BTE has been the topic of a number of recent analyst reports. ValuEngine raised Baytex Energy from a “sell” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research downgraded Baytex Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Raymond James reissued a “buy” rating and set a $3.00 price target on shares of Baytex Energy in a research report on Friday. Finally, Credit Suisse Group initiated coverage on Baytex Energy in a research report on Monday, July 15th. They set an “outperform” rating and a $3.50 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $3.87.
A number of hedge funds and other institutional investors have recently made changes to their positions in BTE. Bank of America Corp DE boosted its holdings in shares of Baytex Energy by 4.9% during the fourth quarter. Bank of America Corp DE now owns 268,698 shares of the oil and gas producer’s stock worth $472,000 after acquiring an additional 12,547 shares during the period. HRT Financial LLC bought a new stake in shares of Baytex Energy during the fourth quarter worth approximately $28,000. Swiss National Bank boosted its holdings in shares of Baytex Energy by 2.8% during the second quarter. Swiss National Bank now owns 1,037,776 shares of the oil and gas producer’s stock worth $1,609,000 after acquiring an additional 28,100 shares during the period. Evergreen Capital Management LLC bought a new stake in shares of Baytex Energy during the first quarter worth approximately $55,000. Finally, K.J. Harrison & Partners Inc boosted its holdings in shares of Baytex Energy by 220.6% during the first quarter. K.J. Harrison & Partners Inc now owns 65,400 shares of the oil and gas producer’s stock worth $111,000 after acquiring an additional 45,000 shares during the period. 20.29% of the stock is currently owned by hedge funds and other institutional investors.
Baytex Energy Company Profile
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.
Further Reading: Diversification
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