Baytex Energy Corp (NYSE:BTE) (TSE:BTE) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 10,310,000 shares, a decline of 15.3% from the August 30th total of 12,170,000 shares. Based on an average daily volume of 1,950,000 shares, the short-interest ratio is presently 5.3 days. Currently, 1.9% of the shares of the company are sold short.
Large investors have recently modified their holdings of the stock. Corient Capital Partners LLC purchased a new position in Baytex Energy during the second quarter valued at approximately $33,000. D. E. Shaw & Co. Inc. purchased a new position in Baytex Energy during the second quarter valued at approximately $59,000. Parametric Portfolio Associates LLC grew its stake in Baytex Energy by 212.5% during the second quarter. Parametric Portfolio Associates LLC now owns 105,254 shares of the oil and gas producer’s stock valued at $162,000 after acquiring an additional 71,578 shares in the last quarter. K.J. Harrison & Partners Inc grew its stake in Baytex Energy by 76.5% during the second quarter. K.J. Harrison & Partners Inc now owns 115,400 shares of the oil and gas producer’s stock valued at $179,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in Baytex Energy by 83.3% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 128,575 shares of the oil and gas producer’s stock valued at $198,000 after acquiring an additional 58,435 shares in the last quarter. 20.16% of the stock is owned by institutional investors.
Several analysts have recently issued reports on the stock. Raymond James reissued a “buy” rating and issued a $3.00 price target on shares of Baytex Energy in a research report on Friday, August 2nd. Zacks Investment Research lowered shares of Baytex Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. ValuEngine raised shares of Baytex Energy from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Credit Suisse Group assumed coverage on shares of Baytex Energy in a research report on Monday, July 15th. They issued an “outperform” rating and a $3.50 price target on the stock. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. Baytex Energy presently has a consensus rating of “Hold” and a consensus price target of $3.87.
NYSE:BTE traded down $0.01 during mid-day trading on Monday, hitting $1.31. 539,317 shares of the stock traded hands, compared to its average volume of 1,914,063. The business’s 50-day moving average price is $1.42 and its 200 day moving average price is $1.60. The company has a market cap of $736.52 million, a PE ratio of -14.56 and a beta of 2.56. Baytex Energy has a 12-month low of $1.15 and a 12-month high of $2.49. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.64.
Baytex Energy (NYSE:BTE) (TSE:BTE) last issued its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.11 EPS for the quarter, beating the consensus estimate of $0.07 by $0.04. The company had revenue of $360.35 million during the quarter. Baytex Energy had a negative net margin of 6.62% and a positive return on equity of 5.54%. Analysts anticipate that Baytex Energy will post 0.19 earnings per share for the current fiscal year.
Baytex Energy Company Profile
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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