Vanguard Group Inc. increased its position in shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) by 137.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,889,037 shares of the oil and gas producer’s stock after purchasing an additional 7,471,495 shares during the period. Vanguard Group Inc. owned 2.33% of Baytex Energy worth $37,507,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Shell Asset Management Co. increased its position in Baytex Energy by 131.5% during the third quarter. Shell Asset Management Co. now owns 50,466 shares of the oil and gas producer’s stock worth $146,000 after purchasing an additional 28,666 shares during the last quarter. Worth Venture Partners LLC acquired a new stake in shares of Baytex Energy during the third quarter valued at about $247,000. DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in shares of Baytex Energy during the third quarter valued at about $250,000. Dynamic Technology Lab Private Ltd increased its position in shares of Baytex Energy by 79.9% during the third quarter. Dynamic Technology Lab Private Ltd now owns 87,832 shares of the oil and gas producer’s stock valued at $255,000 after acquiring an additional 39,022 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of Baytex Energy by 121.7% during the third quarter. Great West Life Assurance Co. Can now owns 92,629 shares of the oil and gas producer’s stock valued at $268,000 after acquiring an additional 50,854 shares during the last quarter. Hedge funds and other institutional investors own 30.25% of the company’s stock.
Shares of NYSE BTE traded up $0.05 during midday trading on Tuesday, hitting $1.57. The company’s stock had a trading volume of 21,547 shares, compared to its average volume of 1,941,793. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.55 and a current ratio of 0.55. Baytex Energy Corp has a 1 year low of $1.38 and a 1 year high of $4.85. The firm has a market cap of $871.35 million, a price-to-earnings ratio of -78.50 and a beta of 2.51.
A number of brokerages have weighed in on BTE. Zacks Investment Research cut shares of Baytex Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, January 9th. Royal Bank of Canada reiterated an “average” rating and set a $5.50 price target on shares of Baytex Energy in a research report on Tuesday, November 6th. TD Securities reiterated a “buy” rating and set a $5.50 price target on shares of Baytex Energy in a research report on Monday, November 5th. Raymond James upgraded shares of Baytex Energy from a “market perform” rating to an “outperform” rating in a research report on Monday, November 5th. Finally, Desjardins reiterated a “buy” rating on shares of Baytex Energy in a research report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Baytex Energy currently has a consensus rating of “Hold” and a consensus target price of $4.90.
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About Baytex Energy
Baytex Energy Corp., an oil and gas company, engages in the acquisition, development, and production of oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. It offers heavy oil, heavy gravity crude oil, bitumen, light oil, and natural gas liquids. Its primary oil resource plays include the Eagle Ford in Texas, and the Peace River Oil Sands and Lloydminster heavy oil projects in North America.
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