Shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) gapped up before the market opened on Thursday . The stock had previously closed at $3.09, but opened at $3.16. Baytex Energy shares last traded at $3.36, with a volume of 4073904 shares trading hands.

Several analysts have commented on BTE shares. Zacks Investment Research upgraded Baytex Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. BidaskClub downgraded Baytex Energy from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. ValuEngine downgraded Baytex Energy from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. AltaCorp Capital downgraded Baytex Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 6th. Finally, Barclays downgraded Baytex Energy from an “equal weight” rating to an “underweight” rating in a research note on Monday, October 30th. Five analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $6.80.

The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.92.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Baytex Energy by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 4,593,778 shares of the oil and gas producer’s stock valued at $11,163,000 after buying an additional 150,013 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Baytex Energy by 776.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,171,372 shares of the oil and gas producer’s stock valued at $9,641,000 after buying an additional 2,809,730 shares during the period. Schroder Investment Management Group lifted its holdings in shares of Baytex Energy by 3.3% during the 3rd quarter. Schroder Investment Management Group now owns 3,126,500 shares of the oil and gas producer’s stock valued at $11,849,000 after buying an additional 98,700 shares during the period. Bank of Montreal Can lifted its holdings in shares of Baytex Energy by 1.0% during the 2nd quarter. Bank of Montreal Can now owns 717,403 shares of the oil and gas producer’s stock valued at $1,744,000 after buying an additional 7,259 shares during the period. Finally, Ninepoint Partners LP bought a new position in shares of Baytex Energy during the 3rd quarter valued at $1,716,000. 16.48% of the stock is currently owned by hedge funds and other institutional investors.

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About Baytex Energy

Baytex Energy Corp. (Baytex) 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 four business units: Lloydminster, Peace River, Conventional and United States.

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