Baytex Energy (BTE) Shares Gap Up to $2.25

Baytex Energy Corp (NYSE:BTE) (TSE:BTE) gapped up before the market opened on Tuesday . The stock had previously closed at $2.32, but opened at $2.25. Baytex Energy shares last traded at $2.27, with a volume of 172462 shares.

A number of equities research analysts have recently weighed in on BTE shares. CIBC restated a “buy” rating on shares of Baytex Energy in a research note on Saturday, February 2nd. Raymond James reissued a “buy” rating on shares of Baytex Energy in a report on Thursday, March 7th. Zacks Investment Research upgraded Baytex Energy from a “hold” rating to a “buy” rating and set a $2.00 price target on the stock in a research note on Thursday, March 7th. ValuEngine upgraded Baytex Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Macquarie downgraded Baytex Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, January 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $4.09.

The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market cap of $1.20 billion, a P/E ratio of -25.11 and a beta of 2.56.

Baytex Energy (NYSE:BTE) (TSE:BTE) last issued its earnings results on Wednesday, March 6th. The oil and gas producer reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.11. Baytex Energy had a negative return on equity of 1.71% and a negative net margin of 22.63%. The firm had revenue of $271.24 million for the quarter. On average, analysts predict that Baytex Energy Corp will post 0.14 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in BTE. QS Investors LLC boosted its stake in shares of Baytex Energy by 12.6% during the 4th quarter. QS Investors LLC now owns 75,176 shares of the oil and gas producer’s stock worth $132,000 after acquiring an additional 8,400 shares in the last quarter. Bank of America Corp DE lifted its stake in Baytex Energy by 4.9% in the 4th quarter. Bank of America Corp DE now owns 268,698 shares of the oil and gas producer’s stock worth $472,000 after purchasing an additional 12,547 shares in the last quarter. Blume Capital Management Inc. lifted its stake in Baytex Energy by 182.4% in the 4th quarter. Blume Capital Management Inc. now owns 21,078 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 13,615 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Baytex Energy by 50.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,530 shares of the oil and gas producer’s stock worth $75,000 after purchasing an additional 14,203 shares in the last quarter. Finally, HRT Financial LLC purchased a new position in Baytex Energy during the fourth quarter worth approximately $28,000. Institutional investors and hedge funds own 25.31% of the company’s stock.

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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.

See Also: Net Income

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