Shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) have been given a consensus rating of “Hold” by the eleven research firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $7.20.

BTE has been the topic of a number of recent analyst reports. Raymond James Financial, Inc. downgraded Baytex Energy Corp from a “market perform” rating to an “underperform” rating in a report on Wednesday, July 5th. AltaCorp Capital reiterated an “outperform” rating on shares of Baytex Energy Corp in a report on Friday, May 5th. Zacks Investment Research downgraded Baytex Energy Corp from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Scotiabank downgraded Baytex Energy Corp from an “outperform” rating to a “sector perform” rating in a report on Thursday, June 29th. Finally, UBS AG downgraded Baytex Energy Corp from a “market perform” rating to an “underperform” rating in a report on Wednesday, July 5th.

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Several hedge funds have recently made changes to their positions in BTE. Bank of Montreal Can boosted its stake in shares of Baytex Energy Corp by 1.0% in the second quarter. Bank of Montreal Can now owns 717,403 shares of the oil and gas producer’s stock worth $1,744,000 after buying an additional 7,259 shares during the period. UBS Asset Management Americas Inc. boosted its stake in shares of Baytex Energy Corp by 8.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 377,456 shares of the oil and gas producer’s stock worth $1,847,000 after buying an additional 30,278 shares during the period. Timber Hill LLC purchased a new stake in shares of Baytex Energy Corp during the first quarter worth about $106,000. KCG Holdings Inc. boosted its stake in shares of Baytex Energy Corp by 109.8% in the first quarter. KCG Holdings Inc. now owns 67,821 shares of the oil and gas producer’s stock worth $232,000 after buying an additional 35,497 shares during the period. Finally, Dynamic Technology Lab Private Ltd boosted its stake in shares of Baytex Energy Corp by 138.3% in the first quarter. Dynamic Technology Lab Private Ltd now owns 63,506 shares of the oil and gas producer’s stock worth $217,000 after buying an additional 36,851 shares during the period. 19.74% of the stock is owned by hedge funds and other institutional investors.

Shares of Baytex Energy Corp (NYSE BTE) traded up 2.45% during midday trading on Monday, reaching $2.51. The company’s stock had a trading volume of 148,520 shares. The stock’s 50-day moving average price is $2.49 and its 200-day moving average price is $3.33. The company’s market cap is $587.85 million. Baytex Energy Corp has a 12-month low of $2.13 and a 12-month high of $5.64.

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.

Analyst Recommendations for Baytex Energy Corp (NYSE:BTE)

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