Baytex Energy Corp (NYSE:BTE) (TSE:BTE) shares dropped 5.3% during trading on Wednesday . The company traded as low as $1.42 and last traded at $1.42. Approximately 2,981,786 shares changed hands during trading, an increase of 52% from the average daily volume of 1,967,022 shares. The stock had previously closed at $1.50.
BTE has been the topic of a number of analyst reports. Raymond James reissued a “buy” rating on shares of Baytex Energy in a report on Thursday, March 7th. Zacks Investment Research upgraded Baytex Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th. Finally, Macquarie upgraded Baytex Energy from a “neutral” rating to an “outperform” rating and set a $1.81 target price for the company in a research note on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. Baytex Energy presently has an average rating of “Buy” and an average price target of $4.09.
The company has a market cap of $812.55 million, a price-to-earnings ratio of -15.78 and a beta of 2.65. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86.
Baytex Energy (NYSE:BTE) (TSE:BTE) last announced its earnings results on Thursday, May 2nd. The oil and gas producer reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). Baytex Energy had a negative net margin of 15.71% and a positive return on equity of 1.17%. The business had revenue of $341.05 million for the quarter. As a group, equities analysts forecast that Baytex Energy Corp will post 0.22 earnings per share for the current year.
A number of large investors have recently made changes to their positions in BTE. HRT Financial LLC bought a new stake in Baytex Energy during the 4th quarter valued at approximately $28,000. Blume Capital Management Inc. boosted its stake in Baytex Energy by 182.4% during the 4th quarter. Blume Capital Management Inc. now owns 21,078 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 13,615 shares during the period. CLARET ASSET MANAGEMENT Corp boosted its stake in Baytex Energy by 410.0% during the 4th quarter. CLARET ASSET MANAGEMENT Corp now owns 25,500 shares of the oil and gas producer’s stock valued at $45,000 after purchasing an additional 20,500 shares during the period. Evergreen Capital Management LLC bought a new stake in Baytex Energy during the 1st quarter valued at approximately $55,000. Finally, Parametric Portfolio Associates LLC lifted its position in shares of Baytex Energy by 49.2% in the 1st quarter. Parametric Portfolio Associates LLC now owns 33,676 shares of the oil and gas producer’s stock worth $57,000 after acquiring an additional 11,102 shares during the period. Hedge funds and other institutional investors own 20.18% of the company’s stock.
Baytex Energy Company Profile (NYSE:BTE)
Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. The company offers light oil, natural gas liquids, shale and natural gas, heavy gravity crude oil, bitumen, and heavy oil.
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