Zacks Investment Research upgraded shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

According to Zacks, “Baytex Energy Trust is a conventional oil and gas income trust focused on maintaining its production and asset base through internal property development and delivering consistent returns to its unitholders. “

A number of other equities research analysts have also weighed in on the company. Canaccord Genuity reaffirmed a buy rating and set a $4.25 target price on shares of Baytex Energy Corp in a research report on Thursday, November 2nd. Barclays PLC lowered Baytex Energy Corp from an equal weight rating to an underweight rating in a research report on Monday, October 30th. AltaCorp Capital lowered Baytex Energy Corp from an outperform rating to a sector perform rating in a research report on Friday, October 6th. ValuEngine lowered Baytex Energy Corp from a sell rating to a strong sell rating in a research report on Friday, September 1st. Finally, BidaskClub lowered Baytex Energy Corp from a hold rating to a sell rating in a research report on Thursday, August 17th. Five analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $6.80.

Shares of Baytex Energy Corp (NYSE:BTE) opened at $3.29 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.92. Baytex Energy Corp has a 1 year low of $2.13 and a 1 year high of $5.61.

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A number of institutional investors have recently bought and sold shares of the business. Citadel Advisors LLC grew its stake in Baytex Energy Corp by 614.8% during the 3rd quarter. Citadel Advisors LLC now owns 312,849 shares of the oil and gas producer’s stock valued at $942,000 after purchasing an additional 269,083 shares during the last quarter. Schroder Investment Management Group grew its stake in Baytex Energy Corp by 3.3% during the 3rd quarter. Schroder Investment Management Group now owns 3,126,500 shares of the oil and gas producer’s stock valued at $11,849,000 after purchasing an additional 98,700 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Baytex Energy Corp by 776.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,171,372 shares of the oil and gas producer’s stock valued at $9,641,000 after purchasing an additional 2,809,730 shares during the last quarter. ING Groep NV purchased a new stake in Baytex Energy Corp during the 3rd quarter valued at about $271,000. Finally, Ninepoint Partners LP purchased a new stake in Baytex Energy Corp during the 3rd quarter valued at about $1,716,000. Institutional investors and hedge funds own 15.80% of the company’s stock.

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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Analyst Recommendations for Baytex Energy Corp (NYSE:BTE)

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