Baytex Energy Corp (BTE) Given Consensus Rating of “Hold” by Brokerages
Baytex Energy Corp (NYSE:BTE) (TSE:BTE) has been given an average recommendation of “Hold” by the ten research firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $7.17.
Several equities analysts have recently weighed in on BTE shares. Zacks Investment Research upgraded Baytex Energy Corp from a “sell” rating to a “hold” rating in a report on Friday, August 11th. AltaCorp Capital restated an “outperform” rating on shares of Baytex Energy Corp in a report on Monday, May 15th. Scotiabank cut Baytex Energy Corp from an “outperform” rating to a “sector perform” rating in a report on Thursday, June 29th. BidaskClub cut Baytex Energy Corp from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Raymond James Financial, Inc. cut Baytex Energy Corp from a “market perform” rating to an “underperform” rating in a report on Wednesday, July 5th.
Baytex Energy Corp (NYSE BTE) remained flat at $2.49 during mid-day trading on Friday. The company’s stock had a trading volume of 338,969 shares. The stock’s market capitalization is $586.27 million. Baytex Energy Corp has a 52-week low of $2.13 and a 52-week high of $5.62. The company’s 50-day moving average is $2.55 and its 200 day moving average is $3.09.
Baytex Energy Corp (NYSE:BTE) (TSE:BTE) last released its earnings results on Tuesday, August 1st. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.17. The firm had revenue of $207.22 million during the quarter. Baytex Energy Corp had a negative return on equity of 5.17% and a negative net margin of 38.91%. Analysts forecast that Baytex Energy Corp will post ($0.18) EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the company. Schroder Investment Management Group boosted its position in Baytex Energy Corp by 121.1% in the first quarter. Schroder Investment Management Group now owns 2,981,853 shares of the oil and gas producer’s stock worth $13,687,000 after buying an additional 1,633,500 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Baytex Energy Corp by 63,346.0% in the second quarter. JPMorgan Chase & Co. now owns 361,642 shares of the oil and gas producer’s stock worth $878,000 after buying an additional 361,072 shares during the last quarter. Formidable Asset Management LLC boosted its position in Baytex Energy Corp by 982.4% in the first quarter. Formidable Asset Management LLC now owns 394,000 shares of the oil and gas producer’s stock worth $131,000 after buying an additional 357,600 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new position in Baytex Energy Corp during the second quarter worth approximately $891,000. Finally, Vanguard Group Inc. boosted its position in Baytex Energy Corp by 4.8% in the first quarter. Vanguard Group Inc. now owns 4,443,765 shares of the oil and gas producer’s stock worth $15,198,000 after buying an additional 204,913 shares during the last quarter. Institutional investors and hedge funds own 19.61% of the company’s stock.
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About Baytex Energy Corp
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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