Baytex Energy Corp (NYSE:BTE) (TSE:BTE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

According to Zacks, “Baytex Energy Trust is a conventional oil and gas income trust focused on maintaining its production and asset base through internal property development and delivering consistent returns to its unitholders. “

A number of other analysts have also recently commented on the stock. Scotiabank cut shares of Baytex Energy Corp from an “outperform” rating to a “sector perform” rating in a research note on Thursday, June 29th. AltaCorp Capital cut shares of Baytex Energy Corp from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 6th. BidaskClub cut shares of Baytex Energy Corp from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. ValuEngine cut shares of Baytex Energy Corp from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Finally, Raymond James Financial, Inc. cut shares of Baytex Energy Corp from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 5th. Five analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $7.44.

Baytex Energy Corp (NYSE:BTE) traded down 0.35% on Wednesday, hitting $2.86. 841,223 shares of the company’s stock traded hands. Baytex Energy Corp has a one year low of $2.13 and a one year high of $5.61. The stock has a 50-day moving average of $2.74 and a 200-day moving average of $2.83. The stock’s market cap is $673.39 million.

Baytex Energy Corp (NYSE:BTE) (TSE:BTE) last released its quarterly earnings data on Tuesday, August 1st. The oil and gas producer reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $207.22 million during the quarter. On average, equities analysts forecast that Baytex Energy Corp will post ($0.18) earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in BTE. UBS Asset Management Americas Inc. grew its stake in Baytex Energy Corp by 12.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 424,370 shares of the oil and gas producer’s stock valued at $1,445,000 after acquiring an additional 46,914 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its stake in Baytex Energy Corp by 138.3% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 63,506 shares of the oil and gas producer’s stock valued at $217,000 after acquiring an additional 36,851 shares in the last quarter. Van ECK Associates Corp purchased a new stake in Baytex Energy Corp during the 1st quarter valued at about $394,000. Vanguard Group Inc. grew its stake in Baytex Energy Corp by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 4,443,765 shares of the oil and gas producer’s stock valued at $15,198,000 after acquiring an additional 204,913 shares in the last quarter. Finally, KCG Holdings Inc. grew its stake in Baytex Energy Corp by 109.8% during the 1st quarter. KCG Holdings Inc. now owns 67,821 shares of the oil and gas producer’s stock valued at $232,000 after acquiring an additional 35,497 shares in the last quarter. 15.79% of the stock is owned by institutional investors.

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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