Baytex Energy (NYSE:BTE) (TSE:BTE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.

According to Zacks, “Baytex Energy Trust is a conventional oil and gas income trust focused on maintaining its production and asset base through internal property development and delivering consistent returns to its unitholders. “

BTE has been the subject of a number of other reports. GMP Securities raised Baytex Energy from a “hold” rating to a “buy” rating in a research note on Monday, November 13th. ValuEngine downgraded Baytex Energy from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st. Barclays downgraded Baytex Energy from an “equal weight” rating to an “underweight” rating in a research note on Monday, October 30th. Canaccord Genuity reissued a “buy” rating and set a $4.25 price objective on shares of Baytex Energy in a research report on Thursday, November 2nd. Finally, AltaCorp Capital downgraded Baytex Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 6th. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $4.42.

Shares of Baytex Energy (NYSE:BTE) opened at $3.28 on Monday. Baytex Energy has a 52 week low of $2.13 and a 52 week high of $4.56. The stock has a market capitalization of $788.84, a price-to-earnings ratio of -2.52 and a beta of 3.42. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.92.

Baytex Energy (NYSE:BTE) (TSE:BTE) last issued its earnings results on Thursday, November 2nd. The oil and gas producer reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.15. Baytex Energy had a negative return on equity of 3.79% and a negative net margin of 33.43%. sell-side analysts anticipate that Baytex Energy will post -0.13 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of BTE. JPMorgan Chase & Co. increased its position 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 worth $9,641,000 after purchasing an additional 2,809,730 shares during the last quarter. Ninepoint Partners LP acquired a new stake in shares of Baytex Energy during the 3rd quarter worth about $1,716,000. Citadel Advisors LLC increased its position in shares of Baytex Energy by 614.8% during the 3rd quarter. Citadel Advisors LLC now owns 312,849 shares of the oil and gas producer’s stock worth $942,000 after purchasing an additional 269,083 shares during the last quarter. Vanguard Group Inc. increased its position 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 worth $11,163,000 after purchasing an additional 150,013 shares during the last quarter. Finally, Schroder Investment Management Group increased its position 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 worth $11,849,000 after purchasing an additional 98,700 shares during the last quarter. 16.47% of the stock is 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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