Virtu Financial LLC cut its position in shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) by 44.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 54,663 shares of the oil and gas producer’s stock after selling 44,542 shares during the quarter. Virtu Financial LLC’s holdings in Baytex Energy were worth $164,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its holdings in Baytex Energy by 39.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 269,268 shares of the oil and gas producer’s stock valued at $808,000 after purchasing an additional 76,262 shares in the last quarter. Aperio Group LLC boosted its holdings in Baytex Energy by 386.5% during the fourth quarter. Aperio Group LLC now owns 91,099 shares of the oil and gas producer’s stock valued at $273,000 after purchasing an additional 72,373 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in Baytex Energy by 10.5% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 297,055 shares of the oil and gas producer’s stock valued at $891,000 after purchasing an additional 28,125 shares in the last quarter. Guardian Capital Advisors LP boosted its holdings in Baytex Energy by 6.8% during the third quarter. Guardian Capital Advisors LP now owns 268,334 shares of the oil and gas producer’s stock valued at $861,000 after purchasing an additional 17,002 shares in the last quarter. Finally, Citadel Advisors LLC boosted its holdings in Baytex Energy by 614.8% during the third quarter. Citadel Advisors LLC now owns 312,849 shares of the oil and gas producer’s stock valued at $942,000 after purchasing an additional 269,083 shares in the last quarter. 21.41% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on BTE. ValuEngine downgraded Baytex Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Zacks Investment Research raised Baytex Energy from a “hold” rating to a “buy” rating and set a $3.25 price objective on the stock in a report on Tuesday, January 2nd. GMP Securities downgraded Baytex Energy from a “buy” rating to a “hold” rating in a report on Monday, December 11th. Finally, AltaCorp Capital raised Baytex Energy from a “sector perform” rating to an “outperform” rating in a report on Wednesday, February 14th. Five investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.42.
Baytex Energy (NYSE:BTE) (TSE:BTE) last announced its earnings results on Tuesday, March 6th. The oil and gas producer reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.03. The business had revenue of $302.19 million for the quarter, compared to the consensus estimate of $278.72 million. Baytex Energy had a negative return on equity of 0.82% and a net margin of 10.56%. Baytex Energy’s revenue was up 29.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.66) EPS. research analysts anticipate that Baytex Energy Corp will post -0.45 earnings per share for the current fiscal year.
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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.
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