Baytex Energy (BTE) Shares Gap Down to $1.62

Shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) gapped down before the market opened on Friday . The stock had previously closed at $1.70, but opened at $1.62. Baytex Energy shares last traded at $1.54, with a volume of 2513372 shares traded.

BTE has been the subject of several recent analyst reports. Raymond James reaffirmed a “buy” rating on shares of Baytex Energy in a research report on Thursday, March 7th. Zacks Investment Research downgraded shares of Baytex Energy from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. CIBC reaffirmed a “buy” rating on shares of Baytex Energy in a research report on Saturday, February 2nd. Finally, Macquarie raised shares of Baytex Energy from a “neutral” rating to an “outperform” rating and set a $1.81 price objective for the company in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $4.09.

The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The stock has a market cap of $869.65 million, a PE ratio of -17.11 and a beta of 2.63.

Baytex Energy (NYSE:BTE) (TSE:BTE) last posted its quarterly earnings results on Thursday, May 2nd. The oil and gas producer reported $0.02 earnings per share (EPS) 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 during the quarter. Equities research analysts anticipate that Baytex Energy Corp will post 0.22 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of BTE. Morgan Stanley grew its position in Baytex Energy by 48.3% in the 3rd quarter. Morgan Stanley now owns 4,616,825 shares of the oil and gas producer’s stock valued at $13,435,000 after purchasing an additional 1,504,301 shares during the period. Vanguard Group Inc. grew its position in Baytex Energy by 137.9% in the 3rd quarter. Vanguard Group Inc. now owns 12,889,037 shares of the oil and gas producer’s stock valued at $37,507,000 after purchasing an additional 7,471,495 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Baytex Energy by 50.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,530 shares of the oil and gas producer’s stock valued at $75,000 after purchasing an additional 14,203 shares during the period. Blume Capital Management Inc. grew its position in Baytex Energy by 182.4% in 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. Finally, Water Island Capital LLC grew its position in Baytex Energy by 60.5% in the 4th quarter. Water Island Capital LLC now owns 469,467 shares of the oil and gas producer’s stock valued at $826,000 after purchasing an additional 176,967 shares during the period. 20.18% of the stock is owned by institutional investors and hedge funds.

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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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