Baytex Energy Corp. (NYSE:BTE) shares were down 2.8% during mid-day trading on Thursday . The company traded as low as $5.50 and last traded at $5.57, with a volume of 3,033,007 shares trading hands. The stock had previously closed at $5.73.

A number of research analysts have issued reports on BTE shares. Zacks Investment Research downgraded Baytex Energy Corp. from a “buy” rating to a “hold” rating in a research note on Friday, April 1st. Canaccord Genuity reiterated a “buy” rating on shares of Baytex Energy Corp. in a research note on Saturday, April 2nd. Royal Bank Of Canada reiterated a “sector perform” rating and set a $7.00 price target (up previously from $6.00) on shares of Baytex Energy Corp. in a research note on Thursday, May 5th. TD Securities reiterated a “hold” rating and set a $6.00 price target (up previously from $5.50) on shares of Baytex Energy Corp. in a research note on Friday, May 6th. Finally, CIBC reiterated a “sector perform” rating and set a $9.50 price target on shares of Baytex Energy Corp. in a research note on Wednesday, June 15th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $9.54.

The firm’s 50 day moving average is $5.47 and its 200-day moving average is $3.83. The firm’s market cap is $1.17 billion.

Several hedge funds have recently modified their holdings of the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its stake in shares of Baytex Energy Corp. by 97.0% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 465,700 shares of the company’s stock valued at $2,086,000 after buying an additional 229,300 shares during the last quarter. Henderson Group PLC purchased a new stake in shares of Baytex Energy Corp. during the fourth quarter valued at approximately $2,025,000. Finally, I.G. Investment Management LTD. raised its stake in shares of Baytex Energy Corp. by 74.0% in the fourth quarter. I.G. Investment Management LTD. now owns 2,028,900 shares of the company’s stock valued at $6,572,000 after buying an additional 862,710 shares during the last quarter.

Baytex Energy Corp. (Baytex), through its subsidiaries, is engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (primarily in the provinces of Alberta and Saskatchewan) and in the United States (primarily in the state of Texas).

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