Morgan Stanley Decreases Stock Position in Baytex Energy Corp (NYSE:BTE)

Morgan Stanley reduced its position in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) by 86.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 663,050 shares of the oil and gas producer’s stock after selling 4,270,712 shares during the period. Morgan Stanley’s holdings in Baytex Energy were worth $1,022,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Toronto Dominion Bank grew its position in Baytex Energy by 2.1% in the 2nd quarter. Toronto Dominion Bank now owns 611,842 shares of the oil and gas producer’s stock worth $949,000 after purchasing an additional 12,358 shares during the period. JPMorgan Chase & Co. grew its position in Baytex Energy by 1.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,105,415 shares of the oil and gas producer’s stock worth $1,702,000 after purchasing an additional 14,474 shares during the period. Corient Capital Partners LLC bought a new stake in Baytex Energy in the 2nd quarter worth approximately $33,000. Swiss National Bank grew its position in Baytex Energy by 2.8% in the 2nd quarter. Swiss National Bank now owns 1,037,776 shares of the oil and gas producer’s stock worth $1,609,000 after purchasing an additional 28,100 shares during the period. Finally, Bank of Nova Scotia grew its position in Baytex Energy by 21.5% in the 2nd quarter. Bank of Nova Scotia now owns 170,517 shares of the oil and gas producer’s stock worth $254,000 after purchasing an additional 30,152 shares during the period. Institutional investors own 19.94% of the company’s stock.

Shares of BTE stock opened at $1.29 on Thursday. Baytex Energy Corp has a 1 year low of $1.10 and a 1 year high of $2.32. The firm has a fifty day moving average price of $1.36 and a 200-day moving average price of $1.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.84. The company has a market cap of $686.31 million, a price-to-earnings ratio of -14.33 and a beta of 2.56.

Baytex Energy (NYSE:BTE) (TSE:BTE) last issued its quarterly earnings data on Friday, November 1st. The oil and gas producer reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Baytex Energy had a negative net margin of 7.42% and a positive return on equity of 5.17%. The business had revenue of $321.63 million for the quarter. Equities research analysts expect that Baytex Energy Corp will post 0.19 EPS for the current year.

BTE has been the subject of a number of research analyst reports. Credit Suisse Group initiated coverage on shares of Baytex Energy in a research report on Monday, July 15th. They issued an “outperform” rating and a $3.50 target price for the company. Royal Bank of Canada cut their target price on shares of Baytex Energy from $3.00 to $2.50 and set a “buy” rating for the company in a research report on Friday, October 18th. Raymond James reaffirmed a “hold” rating and issued a $2.00 target price on shares of Baytex Energy in a research report on Monday. Finally, ValuEngine raised shares of Baytex Energy from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $2.93.

Baytex Energy Profile

Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. The company offers light oil, natural gas liquids, shale and natural gas, heavy gravity crude oil, bitumen, and heavy oil.

Further Reading: Percentage Decliners

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

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