Baytex Energy Corp (NYSE:BTE) (TSE:BTE)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $3.02, but opened at $3.10. Baytex Energy shares last traded at $3.26, with a volume of 2106100 shares traded.
A number of brokerages recently commented on BTE. Zacks Investment Research upgraded shares of Baytex Energy from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a research report on Tuesday. ValuEngine cut shares of Baytex Energy from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. GMP Securities cut shares of Baytex Energy from a “buy” rating to a “hold” rating in a research report on Monday, December 11th. Canaccord Genuity restated a “buy” rating and issued a $4.25 price objective on shares of Baytex Energy in a research report on Thursday, November 2nd. Finally, Barclays cut shares of Baytex Energy from an “equal weight” rating to an “underweight” rating in a research report on Monday, October 30th. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $3.75.
The firm has a market capitalization of $731.34, a PE ratio of -2.41 and a beta of 3.42. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.92.
Several hedge funds have recently added to or reduced their stakes in BTE. JPMorgan Chase & Co. boosted its stake in shares of Baytex Energy 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 in the last quarter. Ninepoint Partners LP bought a new stake in shares of Baytex Energy during the 3rd quarter valued at about $1,716,000. Citadel Advisors LLC boosted its stake in shares of Baytex Energy 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 in the last quarter. BNP Paribas Arbitrage SA bought a new stake in shares of Baytex Energy during the 2nd quarter valued at about $891,000. Finally, Vanguard Group Inc. boosted its stake in shares of Baytex Energy by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 4,593,778 shares of the oil and gas producer’s stock valued at $11,163,000 after purchasing an additional 150,013 shares in the last quarter. Hedge funds and other institutional investors own 16.47% of the company’s stock.
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Baytex Energy 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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