Baytex Energy Corp (NYSE:BTE) (TSE:BTE) was the target of a significant drop in short interest in the month of August. As of August 15th, there was short interest totalling 20,629,853 shares, a drop of 13.7% from the July 31st total of 23,915,520 shares. Based on an average daily trading volume, of 1,536,538 shares, the short-interest ratio is currently 13.4 days. Approximately 8.9% of the shares of the company are short sold.

Several research firms recently weighed in on BTE. BidaskClub cut shares of Baytex Energy Corp from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Zacks Investment Research upgraded shares of Baytex Energy Corp from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Raymond James Financial, Inc. cut shares of Baytex Energy Corp from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 5th. UBS AG cut shares of Baytex Energy Corp from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 5th. Finally, Scotiabank cut shares of Baytex Energy Corp from an “outperform” rating to a “sector perform” rating in a research note on Thursday, June 29th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Baytex Energy Corp presently has an average rating of “Hold” and a consensus price target of $7.44.

Baytex Energy Corp (BTE) opened at 2.41 on Thursday. The firm’s 50-day moving average is $2.56 and its 200-day moving average is $3.03. The company’s market cap is $567.43 million. Baytex Energy Corp has a 52 week low of $2.13 and a 52 week high of $5.61.

Baytex Energy Corp (NYSE:BTE) (TSE:BTE) last announced its quarterly earnings data on Tuesday, August 1st. The oil and gas producer reported $0.03 EPS for the quarter, beating the Zacks’ 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 return on equity of 5.17% and a negative net margin of 38.91%. On average, analysts expect that Baytex Energy Corp will post ($0.16) EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. Bank of Montreal Can increased its stake in Baytex Energy Corp by 1.0% in the second quarter. Bank of Montreal Can now owns 717,403 shares of the oil and gas producer’s stock worth $1,744,000 after buying an additional 7,259 shares during the period. Commerzbank Aktiengesellschaft FI increased its stake in Baytex Energy Corp by 7.9% in the second 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 increased its stake in Baytex Energy Corp by 26.2% in the second 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. increased its stake in Baytex Energy Corp by 6.5% in the second 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, Timber Hill LLC purchased a new stake in Baytex Energy Corp during the first quarter worth about $106,000. 15.96% of the stock is owned by hedge funds and other institutional investors.

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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.

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