Baytex Energy (NYSE:BTE) Hits New 1-Year Low at $1.01

Baytex Energy Corp (NYSE:BTE) (TSE:BTE)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $1.01 and last traded at $1.02, with a volume of 2317 shares changing hands. The stock had previously closed at $1.04.

A number of equities research analysts have commented on the company. ValuEngine downgraded Baytex Energy from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Royal Bank of Canada reduced their target price on Baytex Energy from $3.00 to $2.50 and set a “buy” rating for the company in a report on Friday, October 18th. Zacks Investment Research downgraded Baytex Energy from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Finally, Raymond James reissued a “hold” rating and issued a $2.00 target price on shares of Baytex Energy in a report on Monday, November 4th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. Baytex Energy presently has an average rating of “Hold” and a consensus target price of $2.36.

The firm has a market cap of $602.61 million, a price-to-earnings ratio of -12.11 and a beta of 2.60. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average price of $1.19 and a 200-day moving average price of $1.40.

Baytex Energy (NYSE:BTE) (TSE:BTE) last released its quarterly earnings results on Friday, November 1st. 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). The firm had revenue of $321.63 million for the quarter. Baytex Energy had a positive return on equity of 5.17% and a negative net margin of 7.42%. As a group, equities analysts expect that Baytex Energy Corp will post 0.17 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. Corient Capital Partners LLC acquired a new position in shares of Baytex Energy during the 2nd quarter worth $33,000. D. E. Shaw & Co. Inc. purchased a new stake in Baytex Energy during the 2nd quarter worth about $59,000. Tower Research Capital LLC TRC increased its position in Baytex Energy by 110.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 61,188 shares of the oil and gas producer’s stock worth $91,000 after purchasing an additional 32,141 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in Baytex Energy by 212.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 105,254 shares of the oil and gas producer’s stock worth $162,000 after purchasing an additional 71,578 shares in the last quarter. Finally, K.J. Harrison & Partners Inc increased its position in Baytex Energy by 76.5% during the 2nd quarter. K.J. Harrison & Partners Inc now owns 115,400 shares of the oil and gas producer’s stock worth $179,000 after purchasing an additional 50,000 shares in the last quarter. 21.99% of the stock is owned by institutional investors and hedge funds.

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.

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