Baytex Energy (NYSE:BTE) Shares Gap Up to $1.60

Baytex Energy Corp (NYSE:BTE) (TSE:BTE)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $1.62, but opened at $1.60. Baytex Energy shares last traded at $1.57, with a volume of 44,826 shares changing hands.

BTE has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Baytex Energy from a “hold” rating to a “buy” rating and set a $2.00 target price for the company in a report on Thursday, March 7th. Raymond James reaffirmed a “buy” rating on shares of Baytex Energy in a report on Thursday, March 7th. Finally, Macquarie raised shares of Baytex Energy from a “neutral” rating to an “outperform” rating and set a $1.81 target price for the company in a report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $4.09.

The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $857.08 million, a P/E ratio of -17.11 and a beta of 2.66. The business’s fifty day moving average price is $1.67.

Baytex Energy (NYSE:BTE) (TSE:BTE) last issued its earnings results on Thursday, May 2nd. The oil and gas producer reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ 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 company had revenue of $341.05 million during the quarter. Analysts expect that Baytex Energy Corp will post 0.22 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. QS Investors LLC increased its stake in shares of Baytex Energy by 12.6% during the 4th quarter. QS Investors LLC now owns 75,176 shares of the oil and gas producer’s stock worth $132,000 after purchasing an additional 8,400 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Baytex Energy by 4.9% during the 4th quarter. Bank of America Corp DE now owns 268,698 shares of the oil and gas producer’s stock worth $472,000 after purchasing an additional 12,547 shares in the last quarter. HRT Financial LLC purchased a new position in shares of Baytex Energy during the 4th quarter worth approximately $28,000. Commonwealth Bank of Australia increased its stake in shares of Baytex Energy by 25.7% during the 4th quarter. Commonwealth Bank of Australia now owns 139,600 shares of the oil and gas producer’s stock worth $246,000 after purchasing an additional 28,500 shares in the last quarter. Finally, Evergreen Capital Management LLC purchased a new position in shares of Baytex Energy during the 1st quarter worth approximately $55,000. 20.18% of the stock is owned by institutional investors and hedge funds.

About Baytex Energy (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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