Baytex Energy (BTE) Shares Gap Up to $3.21

Baytex Energy Corp (NYSE:BTE) (TSE:BTE) gapped up before the market opened on Thursday . The stock had previously closed at $3.14, but opened at $3.21. Baytex Energy shares last traded at $3.29, with a volume of 2981799 shares.

Several equities research analysts recently issued reports on BTE shares. Canaccord Genuity reaffirmed a “buy” rating and set a $4.25 price target on shares of Baytex Energy in a research note on Thursday, November 2nd. Zacks Investment Research raised shares of Baytex Energy from a “hold” rating to a “buy” rating and set a $3.25 target price for the company in a research report on Tuesday, January 2nd. GMP Securities raised shares of Baytex Energy from a “hold” rating to a “buy” rating in a research report on Monday, November 13th. AltaCorp Capital downgraded shares of Baytex Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 6th. Finally, ValuEngine downgraded shares of Baytex Energy from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $3.75.

The company has a market cap of $773.30, a PE ratio of -2.55 and a beta of 3.42. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.74 and a quick ratio of 0.74.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ING Groep NV bought a new stake in shares of Baytex Energy in the 3rd quarter worth about $271,000. Bank of Nova Scotia increased its position in shares of Baytex Energy by 26.2% in the 2nd quarter. Bank of Nova Scotia now owns 104,076 shares of the oil and gas producer’s stock worth $253,000 after purchasing an additional 21,587 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Baytex Energy by 46.3% in the 2nd quarter. Van ECK Associates Corp now owns 168,906 shares of the oil and gas producer’s stock worth $410,000 after purchasing an additional 53,451 shares during the last quarter. CIBC World Markets Inc. increased its position in shares of Baytex Energy by 22.1% in the 2nd quarter. CIBC World Markets Inc. now owns 200,663 shares of the oil and gas producer’s stock worth $488,000 after purchasing an additional 36,361 shares during the last quarter. Finally, Guardian Capital Advisors LP increased its position in shares of Baytex Energy by 30.1% in the 2nd quarter. Guardian Capital Advisors LP now owns 251,332 shares of the oil and gas producer’s stock worth $769,000 after purchasing an additional 58,150 shares during the last quarter. 16.47% of the stock is owned by institutional investors.

TRADEMARK VIOLATION WARNING: “Baytex Energy (BTE) Shares Gap Up to $3.21” was originally published by Community Financial News and is the sole property of of Community Financial News. If you are reading this report on another publication, it was copied illegally and republished in violation of international copyright and trademark laws. The legal version of this report can be viewed at https://www.com-unik.info/2018/01/12/baytex-energy-bte-shares-gap-up-to-3-21.html.

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.

Receive News & Ratings for Baytex Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baytex Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit