Shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) gapped down prior to trading on Wednesday . The stock had previously closed at $3.63, but opened at $3.30. Baytex Energy Corp shares last traded at $3.07, with a volume of 2215200 shares trading hands.

Several analysts have recently commented on the company. GMP Securities raised Baytex Energy Corp from a “hold” rating to a “buy” rating in a report on Monday. Zacks Investment Research raised Baytex Energy Corp from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. Canaccord Genuity reissued a “buy” rating and issued a $4.25 price target on shares of Baytex Energy Corp in a report on Thursday, November 2nd. Barclays PLC cut Baytex Energy Corp from an “equal weight” rating to an “underweight” rating in a report on Monday, October 30th. Finally, AltaCorp Capital cut Baytex Energy Corp from an “outperform” rating to a “sector perform” rating in a report on Friday, October 6th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $6.80.

The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.92.

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Baytex Energy Corp by 3.4% during the second quarter. Vanguard Group Inc. now owns 4,593,778 shares of the oil and gas producer’s stock worth $11,163,000 after purchasing an additional 150,013 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Baytex Energy Corp by 776.9% during the third quarter. JPMorgan Chase & Co. now owns 3,171,372 shares of the oil and gas producer’s stock worth $9,641,000 after purchasing an additional 2,809,730 shares during the last quarter. Schroder Investment Management Group raised its holdings in Baytex Energy Corp by 3.3% during the third quarter. Schroder Investment Management Group now owns 3,126,500 shares of the oil and gas producer’s stock worth $11,849,000 after purchasing an additional 98,700 shares during the last quarter. Bank of Montreal Can raised its holdings in Baytex Energy Corp by 1.0% during 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 purchasing an additional 7,259 shares during the last quarter. Finally, Ninepoint Partners LP acquired a new position in Baytex Energy Corp during the third quarter worth $1,716,000. 15.96% of the stock is owned by hedge funds and other institutional investors.

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About Baytex Energy Corp

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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