Baytex Energy Corp (BTE) Receives Consensus Rating of “Hold” from Brokerages
Shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) have been assigned an average recommendation of “Hold” from the eleven analysts that are presently covering the firm. Eight investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $7.68.
Separately, AltaCorp Capital reissued an “outperform” rating on shares of Baytex Energy Corp in a research report on Friday.
Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC purchased a new position in shares of Baytex Energy Corp during the fourth quarter valued at about $4,397,000. Formidable Asset Management LLC boosted its position in shares of Baytex Energy Corp by 142.7% in the fourth quarter. Formidable Asset Management LLC now owns 36,400 shares of the oil and gas producer’s stock valued at $177,000 after buying an additional 21,400 shares during the period. Commerzbank Aktiengesellschaft FI boosted its position in shares of Baytex Energy Corp by 1.2% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 208,712 shares of the oil and gas producer’s stock valued at $1,019,000 after buying an additional 2,559 shares during the period. Barometer Capital Management Inc. purchased a new position in shares of Baytex Energy Corp during the fourth quarter valued at about $3,702,000. Finally, PCJ Investment Counsel Ltd. purchased a new position in shares of Baytex Energy Corp during the third quarter valued at about $591,000. 21.38% of the stock is owned by institutional investors and hedge funds.
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Baytex Energy Corp (NYSE:BTE) traded up 1.447% during midday trading on Monday, hitting $3.155. 513,265 shares of the company were exchanged. The firm’s market capitalization is $738.91 million. Baytex Energy Corp has a 1-year low of $2.80 and a 1-year high of $7.14. The stock has a 50 day moving average of $3.23 and a 200 day moving average of $3.94.
Baytex Energy Corp (NYSE:BTE) last issued its quarterly earnings results on Tuesday, March 7th. The oil and gas producer reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by $0.13. Baytex Energy Corp had a negative net margin of 69.17% and a negative return on equity of 5.63%. The business had revenue of $233.11 million for the quarter, compared to analysts’ expectations of $220.09 million. During the same period last year, the business earned ($1.96) earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. On average, equities analysts predict that Baytex Energy Corp will post ($0.37) earnings per share for the current fiscal year.
Baytex Energy Corp Company Profile
Baytex Energy Corp. (Baytex) is engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (Alberta and Saskatchewan) and in the United States (Texas). The Company’s crude oil and natural gas operations are organized into four business units: Lloydminster, Peace River, Conventional and United States.
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