CIBC Asset Management Inc grew its holdings in shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) by 37.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,046 shares of the oil and gas producer’s stock after buying an additional 34,752 shares during the quarter. CIBC Asset Management Inc’s holdings in Baytex Energy were worth $426,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Spark Investment Management LLC acquired a new position in shares of Baytex Energy during the second quarter valued at about $3,387,000. Russell Investments Group Ltd. acquired a new position in shares of Baytex Energy during the second quarter valued at about $119,000. CIBC World Markets Inc. grew its holdings in shares of Baytex Energy by 38.7% during the second quarter. CIBC World Markets Inc. now owns 326,432 shares of the oil and gas producer’s stock valued at $1,087,000 after buying an additional 91,023 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Baytex Energy during the second quarter valued at about $336,000. Finally, Toronto Dominion Bank grew its holdings in shares of Baytex Energy by 103.4% during the second quarter. Toronto Dominion Bank now owns 295,614 shares of the oil and gas producer’s stock valued at $973,000 after buying an additional 150,271 shares during the last quarter. Hedge funds and other institutional investors own 29.69% of the company’s stock.

BTE opened at $2.86 on Wednesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.57 and a quick ratio of 0.57. Baytex Energy Corp has a fifty-two week low of $2.30 and a fifty-two week high of $4.85.

Baytex Energy (NYSE:BTE) (TSE:BTE) last released its quarterly earnings results on Tuesday, July 31st. The oil and gas producer reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.15). Baytex Energy had a negative net margin of 0.55% and a negative return on equity of 8.23%. The firm had revenue of $269.39 million for the quarter. analysts expect that Baytex Energy Corp will post -0.25 earnings per share for the current fiscal year.

A number of research analysts recently weighed in on BTE shares. National Bank Financial raised shares of Baytex Energy from a “sector perform” rating to an “outperform” rating in a research report on Monday, July 23rd. ValuEngine raised shares of Baytex Energy from a “sell” rating to a “hold” rating in a research report on Thursday, June 7th. Scotiabank raised shares of Baytex Energy from a “sector perform” rating to an “outperform” rating in a research report on Thursday, August 23rd. Zacks Investment Research raised shares of Baytex Energy from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a research report on Tuesday, July 10th. Finally, Macquarie raised shares of Baytex Energy from a “neutral” rating to an “outperform” rating in a research report on Wednesday, June 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $4.69.

Baytex Energy Company Profile

Baytex Energy Corp., an oil and gas company, engages in the acquisition, development, and production of oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. It offers heavy oil, heavy gravity crude oil, bitumen, light oil, and natural gas liquids. Its primary oil resource plays include the Eagle Ford in Texas, and the Peace River Oil Sands and Lloydminster heavy oil projects in North America.

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Institutional Ownership by Quarter for Baytex Energy (NYSE:BTE)

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