Morgan Stanley cut its position in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) by 56.6% during the first quarter, Holdings Channel reports. The institutional investor owned 1,447,297 shares of the oil and gas producer’s stock after selling 1,888,541 shares during the period. Morgan Stanley’s holdings in Baytex Energy Corp were worth $4,949,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Timber Hill LLC acquired a new stake in shares of Baytex Energy Corp during the first quarter worth about $106,000. Formidable Asset Management LLC boosted its stake in shares of Baytex Energy Corp by 982.4% in the first quarter. Formidable Asset Management LLC now owns 394,000 shares of the oil and gas producer’s stock worth $131,000 after buying an additional 357,600 shares during the period. Dynamic Technology Lab Private Ltd boosted its stake in shares of Baytex Energy Corp by 138.3% in the first quarter. Dynamic Technology Lab Private Ltd now owns 63,506 shares of the oil and gas producer’s stock worth $217,000 after buying an additional 36,851 shares during the period. Airain ltd acquired a new stake in shares of Baytex Energy Corp during the first quarter worth about $255,000. Finally, Quantitative Investment Management LLC boosted its stake in shares of Baytex Energy Corp by 194.2% in the first quarter. Quantitative Investment Management LLC now owns 107,400 shares of the oil and gas producer’s stock worth $367,000 after buying an additional 70,900 shares during the period. 19.75% of the stock is owned by institutional investors and hedge funds.

Shares of Baytex Energy Corp (BTE) traded up 2.416% during midday trading on Thursday, reaching $2.755. 322,994 shares of the company’s stock traded hands. The company has a 50-day moving average of $2.51 and a 200-day moving average of $3.16. The company’s market capitalization is $648.66 million. Baytex Energy Corp has a one year low of $2.13 and a one year high of $5.64.

Baytex Energy Corp (NYSE:BTE) (TSE:BTE) last issued its earnings results on Tuesday, August 1st. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.17. The firm had revenue of $207.22 million during the quarter. Baytex Energy Corp had a negative net margin of 38.91% and a negative return on equity of 5.17%. Equities research analysts anticipate that Baytex Energy Corp will post ($0.18) EPS for the current year.

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A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Baytex Energy Corp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. 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. Scotiabank cut shares of Baytex Energy Corp from an “outperform” rating to a “sector perform” rating in a research report on Thursday, June 29th. Finally, AltaCorp Capital reissued an “outperform” rating on shares of Baytex Energy Corp in a research report on Monday, May 15th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $7.44.

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

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