Tower Research Capital LLC TRC raised its position in shares of Baytex Energy Corp. (NYSE:BTE) by 47.6% during the second quarter, Holdings Channel reports. The institutional investor owned 18,742 shares of the company’s stock after buying an additional 6,042 shares during the period. Tower Research Capital LLC TRC’s holdings in Baytex Energy Corp. were worth $108,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BTE. Shell Asset Management Co. raised its position in Baytex Energy Corp. by 27.3% in the second quarter. Shell Asset Management Co. now owns 18,200 shares of the company’s stock worth $137,000 after buying an additional 3,900 shares in the last quarter. Prudential Financial Inc. acquired a new position in Baytex Energy Corp. during the second quarter worth $142,000. Montrusco Bolton Investments Inc. acquired a new position in Baytex Energy Corp. during the second quarter worth $144,000. Timber Hill LLC raised its position in Baytex Energy Corp. by 169.4% in the second quarter. Timber Hill LLC now owns 31,101 shares of the company’s stock worth $180,000 after buying an additional 19,557 shares in the last quarter. Finally, Barclays PLC raised its position in Baytex Energy Corp. by 105.0% in the first quarter. Barclays PLC now owns 94,518 shares of the company’s stock worth $283,000 after buying an additional 48,418 shares in the last quarter. Institutional investors and hedge funds own 26.90% of the company’s stock.
Shares of Baytex Energy Corp. (NYSE:BTE) opened at 4.28 on Friday. The stock’s 50 day moving average is $4.29 and its 200-day moving average is $4.85. The company’s market capitalization is $905.40 million. Baytex Energy Corp. has a 12-month low of $1.08 and a 12-month high of $7.14.
Baytex Energy Corp. (NYSE:BTE) last announced its earnings results on Thursday, July 28th. The company reported ($0.41) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.31. Baytex Energy Corp. had a negative net margin of 120.39% and a negative return on equity of 4.67%. The business had revenue of $195.73 million for the quarter, compared to analysts’ expectations of $195.99 million. The firm’s quarterly revenue was down 42.9% compared to the same quarter last year. Analysts anticipate that Baytex Energy Corp. will post ($0.54) earnings per share for the current year.
BTE has been the subject of several analyst reports. Scotiabank reissued an “outperform” rating and issued a $8.75 price target on shares of Baytex Energy Corp. in a report on Friday, July 15th. Barclays PLC cut their price target on shares of Baytex Energy Corp. from $9.00 to $8.00 and set an “equal weight” rating for the company in a report on Friday, July 29th. Zacks Investment Research downgraded shares of Baytex Energy Corp. from a “buy” rating to a “hold” rating in a report on Thursday, July 21st. Credit Suisse Group AG reissued a “hold” rating and issued a $6.50 price target on shares of Baytex Energy Corp. in a report on Friday, July 29th. Finally, BMO Capital Markets raised shares of Baytex Energy Corp. from an “underperform” rating to a “market perform” rating in a report on Thursday, June 30th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Baytex Energy Corp. currently has a consensus rating of “Hold” and a consensus price target of $7.53.
Baytex Energy Corp. Company Profile
Baytex Energy Corp. 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 three business units: Lloydminster, Central and United States.
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