Baytex Energy Corp (NYSE:BTE) (TSE:BTE) was downgraded by stock analysts at AltaCorp Capital from an “outperform” rating to a “sector perform” rating in a research report issued on Friday.

BTE has been the subject of several other research reports. ValuEngine downgraded shares of Baytex Energy Corp from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. BidaskClub downgraded shares of Baytex Energy Corp from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Scotiabank downgraded shares of Baytex Energy Corp from an “outperform” rating to a “sector perform” rating in a report on Thursday, June 29th. Raymond James Financial, Inc. downgraded shares of Baytex Energy Corp from a “market perform” rating to an “underperform” rating in a report on Wednesday, July 5th. Finally, Zacks Investment Research raised shares of Baytex Energy Corp from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. Baytex Energy Corp currently has a consensus rating of “Hold” and an average target price of $7.44.

Shares of Baytex Energy Corp (BTE) opened at 2.82 on Friday. The company has a 50-day moving average of $2.72 and a 200-day moving average of $2.84. Baytex Energy Corp has a 52-week low of $2.13 and a 52-week high of $5.61. The stock’s market capitalization is $663.97 million.

Baytex Energy Corp (NYSE:BTE) (TSE:BTE) last posted its quarterly earnings data on Tuesday, August 1st. The oil and gas producer reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.17. The business had revenue of $207.22 million during the quarter. Baytex Energy Corp had a negative net margin of 38.91% and a negative return on equity of 5.17%. Equities research analysts anticipate that Baytex Energy Corp will post ($0.18) EPS for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Montreal Can lifted its holdings in Baytex Energy Corp by 1.0% in the 2nd quarter. Bank of Montreal Can now owns 717,403 shares of the oil and gas producer’s stock valued at $1,744,000 after acquiring an additional 7,259 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in Baytex Energy Corp by 7.9% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 268,930 shares of the oil and gas producer’s stock worth $653,000 after buying an additional 19,635 shares during the period. Bank of Nova Scotia raised its holdings in Baytex Energy Corp by 26.2% during the 2nd quarter. Bank of Nova Scotia now owns 104,076 shares of the oil and gas producer’s stock worth $253,000 after buying an additional 21,587 shares during the period. UBS Asset Management Americas Inc. raised its holdings in Baytex Energy Corp by 6.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 451,992 shares of the oil and gas producer’s stock worth $1,096,000 after buying an additional 27,622 shares during the period. Finally, KCG Holdings Inc. raised its holdings 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 worth $232,000 after buying an additional 35,497 shares during the period. 15.79% of the stock is owned by institutional investors.

Baytex Energy Corp Company Profile

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.

Analyst Recommendations for Baytex Energy Corp (NYSE:BTE)

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