Shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) have been given an average recommendation of “Hold” by the eleven brokerages that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $3.66.
Several equities analysts have issued reports on BTE shares. Zacks Investment Research downgraded shares of Baytex Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th. ValuEngine downgraded shares of Baytex Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd.
Large investors have recently made changes to their positions in the company. Deutsche Bank AG raised its holdings in shares of Baytex Energy by 30.2% in the fourth quarter. Deutsche Bank AG now owns 2,940,034 shares of the oil and gas producer’s stock valued at $5,174,000 after buying an additional 681,407 shares during the last quarter. FMR LLC raised its holdings in shares of Baytex Energy by 2.8% in the fourth quarter. FMR LLC now owns 7,063,197 shares of the oil and gas producer’s stock valued at $12,469,000 after buying an additional 192,710 shares during the last quarter. Norges Bank purchased a new stake in shares of Baytex Energy in the fourth quarter valued at about $13,729,000. Evergreen Capital Management LLC purchased a new stake in shares of Baytex Energy in the first quarter valued at about $55,000. Finally, Gluskin Sheff & Assoc Inc. raised its holdings in shares of Baytex Energy by 8.2% in the fourth quarter. Gluskin Sheff & Assoc Inc. now owns 1,163,826 shares of the oil and gas producer’s stock valued at $2,055,000 after buying an additional 88,320 shares during the last quarter. 20.18% of the stock is owned by institutional investors and hedge funds.
Baytex Energy (NYSE:BTE) (TSE:BTE) last released its quarterly earnings data on Thursday, May 2nd. The oil and gas producer reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). Baytex Energy had a negative net margin of 15.71% and a positive return on equity of 1.17%. The company had revenue of $341.05 million during the quarter. On average, sell-side analysts predict that Baytex Energy will post 0.13 earnings per share for the current year.
About Baytex Energy
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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