Baytex Energy Corp (NYSE:BTE) Raised to “Hold” at Zacks Investment Research
Baytex Energy Corp (NYSE:BTE) (TSE:BTE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
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. “
BTE has been the subject of several other research reports. Raymond James Financial, Inc. lowered Baytex Energy Corp from a “market perform” rating to an “underperform” rating in a research report on Wednesday, July 5th. AltaCorp Capital reissued an “outperform” rating on shares of Baytex Energy Corp in a research report on Friday, May 5th. Scotiabank lowered Baytex Energy Corp from an “outperform” rating to a “sector perform” rating in a research report on Thursday, June 29th. Finally, UBS AG lowered Baytex Energy Corp from a “market perform” rating to an “underperform” rating in a research report on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Baytex Energy Corp currently has an average rating of “Hold” and an average price target of $7.44.
Baytex Energy Corp (NYSE BTE) traded up 1.17% on Friday, reaching $2.60. 1,056,352 shares of the company’s stock traded hands. Baytex Energy Corp has a 12 month low of $2.13 and a 12 month high of $5.64. The company’s market cap is $612.17 million. The firm’s 50 day moving average price is $2.52 and its 200 day moving average price is $3.15.
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 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, equities analysts expect that Baytex Energy Corp will post ($0.18) EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Bank of Montreal Can raised its position 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 valued at $1,744,000 after buying an additional 7,259 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its position 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 valued at $653,000 after buying an additional 19,635 shares in the last quarter. UBS Asset Management Americas Inc. raised its position 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 valued at $1,096,000 after buying an additional 27,622 shares in the last quarter. Timber Hill LLC bought a new position in Baytex Energy Corp during the first quarter valued at about $106,000. Finally, KCG Holdings Inc. raised its position in Baytex Energy Corp by 109.8% in the first quarter. KCG Holdings Inc. now owns 67,821 shares of the oil and gas producer’s stock valued at $232,000 after buying an additional 35,497 shares in the last quarter. 19.75% of the stock is owned by hedge funds and other 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.
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