Shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) have been given a consensus recommendation of “Hold” by the eleven brokerages that are covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $7.68.
Separately, AltaCorp Capital reissued an “outperform” rating on shares of Baytex Energy Corp in a research report on Monday, May 15th.
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Shares of Baytex Energy Corp (BTE) traded down 4.11% during trading on Friday, reaching $2.80. 749,939 shares of the company were exchanged. Baytex Energy Corp has a 1-year low of $2.78 and a 1-year high of $7.14. The company’s 50-day moving average is $3.14 and its 200 day moving average is $3.84. The firm’s market capitalization is $655.77 million.
Baytex Energy Corp (NYSE:BTE) last posted its earnings results on Tuesday, March 7th. The oil and gas producer reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.16) by $0.13. Baytex Energy Corp had a negative net margin of 69.17% and a negative return on equity of 5.63%. The firm had revenue of $233.11 million for the quarter, compared to analysts’ expectations of $220.09 million. During the same period in the previous year, the company earned ($1.96) EPS. The company’s revenue was up 1.6% on a year-over-year basis. Equities research analysts expect that Baytex Energy Corp will post ($0.27) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Worth Venture Partners LLC bought a new position in Baytex Energy Corp during the fourth quarter worth about $126,000. Dynamic Technology Lab Private Ltd boosted its position in Baytex Energy Corp by 46.3% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 26,655 shares of the oil and gas producer’s stock worth $130,000 after buying an additional 8,432 shares in the last quarter. Timber Hill LLC bought a new position in Baytex Energy Corp during the first quarter worth about $106,000. Formidable Asset Management LLC boosted its position in Baytex Energy Corp by 142.7% in the fourth quarter. Formidable Asset Management LLC now owns 36,400 shares of the oil and gas producer’s stock worth $177,000 after buying an additional 21,400 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in Baytex Energy Corp during the first quarter worth about $180,000. 21.38% of the stock is owned by institutional investors and hedge funds.
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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