Shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) have earned an average recommendation of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $7.17.

A number of research analysts have weighed in on the stock. UBS AG lowered shares of Baytex Energy Corp from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 5th. Zacks Investment Research raised shares of Baytex Energy Corp from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Raymond James Financial, Inc. lowered shares of Baytex Energy Corp from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 5th. Scotiabank lowered shares of Baytex Energy Corp from an “outperform” rating to a “sector perform” rating in a research report on Thursday, June 29th. Finally, BidaskClub lowered shares of Baytex Energy Corp from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th.

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Several hedge funds have recently added to or reduced their stakes in the company. Bank of Nova Scotia raised its position in shares of Baytex Energy Corp by 26.2% during the 2nd quarter. Bank of Nova Scotia now owns 104,076 shares of the oil and gas producer’s stock valued at $253,000 after buying an additional 21,587 shares during the period. Guardian Capital Advisors LP raised its position in shares of Baytex Energy Corp by 30.1% during the 2nd quarter. Guardian Capital Advisors LP now owns 251,332 shares of the oil and gas producer’s stock valued at $769,000 after buying an additional 58,150 shares during the period. Vanguard Group Inc. raised its position in shares of Baytex Energy Corp by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 4,593,778 shares of the oil and gas producer’s stock valued at $11,163,000 after buying an additional 150,013 shares during the period. Van ECK Associates Corp raised its position in shares of Baytex Energy Corp by 46.3% during the 2nd quarter. Van ECK Associates Corp now owns 168,906 shares of the oil and gas producer’s stock valued at $410,000 after buying an additional 53,451 shares during the period. Finally, UBS Asset Management Americas Inc. raised its position in shares of Baytex Energy Corp by 6.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 451,992 shares of the oil and gas producer’s stock valued at $1,096,000 after buying an additional 27,622 shares during the period. 15.96% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Baytex Energy Corp (NYSE:BTE) traded up 1.17% during midday trading on Tuesday, reaching $2.60. The company’s stock had a trading volume of 371,685 shares. The stock’s market capitalization is $612.17 million. The company has a 50 day moving average price of $2.61 and a 200-day moving average price of $2.92. Baytex Energy Corp has a 52 week low of $2.13 and a 52 week high of $5.61.

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 for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.17. Baytex Energy Corp had a negative net margin of 38.91% and a negative return on equity of 5.17%. The business had revenue of $207.22 million for the quarter. On average, equities research analysts expect that Baytex Energy Corp will post ($0.18) EPS for the current 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.

Analyst Recommendations for Baytex Energy Corp (NYSE:BTE)

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