Paloma Partners Management Co purchased a new position in shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 52,800 shares of the oil and gas producer’s stock, valued at approximately $180,000.
A number of other large investors have also added to or reduced their stakes in BTE. Vanguard Group Inc. boosted its stake in Baytex Energy Corp by 4.8% in the first quarter. Vanguard Group Inc. now owns 4,443,765 shares of the oil and gas producer’s stock worth $15,198,000 after buying an additional 204,913 shares in the last quarter. Norges Bank acquired a new stake in Baytex Energy Corp during the fourth quarter worth $20,732,000. Schroder Investment Management Group boosted its stake in Baytex Energy Corp by 121.1% in the first quarter. Schroder Investment Management Group now owns 2,981,853 shares of the oil and gas producer’s stock worth $13,687,000 after buying an additional 1,633,500 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Baytex Energy Corp during the fourth quarter worth $5,501,000. Finally, TD Asset Management Inc. boosted its stake in Baytex Energy Corp by 5.0% in the first quarter. TD Asset Management Inc. now owns 1,012,457 shares of the oil and gas producer’s stock worth $3,447,000 after buying an additional 48,491 shares in the last quarter. 19.75% of the stock is owned by hedge funds and other institutional investors.
Baytex Energy Corp (NYSE:BTE) opened at 2.60 on Friday. The firm has a 50-day moving average price of $2.53 and a 200-day moving average price of $3.14. The company’s market capitalization is $612.17 million. Baytex Energy Corp has a 12 month low of $2.13 and a 12 month high of $5.64.
Baytex Energy Corp (NYSE:BTE) (TSE:BTE) last announced its quarterly earnings results on Tuesday, August 1st. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.17. The company 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%. On average, equities analysts anticipate that Baytex Energy Corp will post ($0.18) earnings per share for the current fiscal year.
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A number of equities research analysts recently weighed in on BTE shares. AltaCorp Capital reaffirmed an “outperform” rating on shares of Baytex Energy Corp in a report on Monday, May 15th. UBS AG lowered Baytex Energy Corp from a “market perform” rating to an “underperform” rating in a research report on Wednesday, July 5th. Scotiabank lowered Baytex Energy Corp from an “outperform” rating to a “sector perform” rating in a research report on Thursday, June 29th. Zacks Investment Research lowered Baytex Energy Corp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, 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. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price 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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