Henderson Group PLC Raises Position in Baytex Energy Corp. (BTE)
Henderson Group PLC increased its position in shares of Baytex Energy Corp. (NYSE:BTE) by 27.7% during the second quarter, Holdings Channel reports. The institutional investor owned 914,919 shares of the company’s stock after buying an additional 198,737 shares during the period. Henderson Group PLC’s holdings in Baytex Energy Corp. were worth $5,297,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Shell Asset Management Co. raised its stake in shares of Baytex Energy Corp. by 27.3% in the second quarter. Shell Asset Management Co. now owns 18,200 shares of the company’s stock worth $137,000 after buying an additional 3,900 shares in the last quarter. Montrusco Bolton Investments Inc. bought a new stake in shares of Baytex Energy Corp. during the second quarter worth $144,000. Barclays PLC raised its stake in shares of Baytex Energy Corp. by 105.0% in the first quarter. Barclays PLC now owns 94,518 shares of the company’s stock worth $283,000 after buying an additional 48,418 shares in the last quarter. UBS Group AG raised its stake in shares of Baytex Energy Corp. by 1.5% in the first quarter. UBS Group AG now owns 148,305 shares of the company’s stock worth $588,000 after buying an additional 2,154 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Baytex Energy Corp. during the second quarter worth $1,535,000. Institutional investors and hedge funds own 26.92% of the company’s stock.
Shares of Baytex Energy Corp. (NYSE:BTE) traded up 0.97% on Tuesday, reaching $4.15. 1,886,270 shares of the company traded hands. The company has a 50-day moving average of $4.24 and a 200-day moving average of $4.86. The stock’s market capitalization is $877.90 million. Baytex Energy Corp. has a 1-year low of $1.08 and a 1-year high of $7.14.
Baytex Energy Corp. (NYSE:BTE) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.31. The company earned $195.73 million during the quarter, compared to analysts’ expectations of $195.99 million. Baytex Energy Corp. had a negative return on equity of 4.67% and a negative net margin of 120.39%. The firm’s quarterly revenue was down 42.9% compared to the same quarter last year. Analysts anticipate that Baytex Energy Corp. will post ($0.59) earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on the stock. Scotiabank reiterated an “outperform” rating and set a $8.75 target price on shares of Baytex Energy Corp. in a research note on Friday, July 15th. Barclays PLC cut their price objective on shares of Baytex Energy Corp. from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Friday, July 29th. Zacks Investment Research downgraded shares of Baytex Energy Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, July 21st. Credit Suisse Group AG reissued a “hold” rating and set a $6.50 price objective on shares of Baytex Energy Corp. in a research report on Friday, July 29th. Finally, BMO Capital Markets raised shares of Baytex Energy Corp. from an “underperform” rating to a “market perform” rating in a research report on Thursday, June 30th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $7.53.
Baytex Energy Corp. Company Profile
Baytex Energy Corp. 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 three business units: Lloydminster, Central and United States.
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