Baytex Energy Corp (NYSE:BTE) (TSE:BTE)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $1.62, but opened at $1.60. Baytex Energy shares last traded at $1.57, with a volume of 44,826 shares trading hands.
A number of brokerages recently commented on BTE. Macquarie raised Baytex Energy from a “neutral” rating to an “outperform” rating and set a $1.81 price target for the company in a research note on Thursday, March 7th. Zacks Investment Research lowered Baytex Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th. Finally, Raymond James reissued a “buy” rating on shares of Baytex Energy in a research note on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $4.09.
The stock has a fifty day simple moving average of $1.68. The stock has a market cap of $857.08 million, a P/E ratio of -17.11 and a beta of 2.66. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.
Baytex Energy (NYSE:BTE) (TSE:BTE) last released its quarterly earnings data on Thursday, May 2nd. The oil and gas producer reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $341.05 million for the quarter. Baytex Energy had a positive return on equity of 1.17% and a negative net margin of 15.71%. As a group, analysts predict that Baytex Energy Corp will post 0.22 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BTE. Norges Bank purchased a new position in Baytex Energy during the 4th quarter worth $13,729,000. Ninepoint Partners LP purchased a new position in shares of Baytex Energy in the 1st quarter valued at $9,887,000. Canada Pension Plan Investment Board purchased a new position in shares of Baytex Energy in the 4th quarter valued at $4,335,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in shares of Baytex Energy in the 1st quarter valued at $2,780,000. Finally, Royce & Associates LP purchased a new position in shares of Baytex Energy in the 4th quarter valued at $1,206,000. Institutional investors own 20.18% of the company’s stock.
About Baytex Energy (NYSE:BTE)
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.
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