Baytex Energy Corp (NYSE:BTE) (TSE:BTE)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $1.67, but opened at $1.78. Baytex Energy shares last traded at $1.89, with a volume of 71856 shares.

A number of research firms recently weighed in on BTE. Zacks Investment Research raised Baytex Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 7th. TD Securities reaffirmed a “buy” rating and issued a $5.50 price target on shares of Baytex Energy in a report on Monday, November 5th. Royal Bank of Canada reaffirmed an “average” rating and issued a $5.50 price target on shares of Baytex Energy in a report on Tuesday, November 6th. ValuEngine raised Baytex Energy from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Raymond James raised Baytex Energy from a “market perform” rating to an “outperform” rating in a report on Monday, November 5th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $5.10.

The firm has a market cap of $1.09 billion, a P/E ratio of -94.00 and a beta of 3.18. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.55 and a quick ratio of 0.55.

Baytex Energy (NYSE:BTE) (TSE:BTE) last announced its earnings results on Friday, November 2nd. The oil and gas producer reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. Baytex Energy had a negative return on equity of 5.46% and a net margin of 1.84%. The business had revenue of $334.21 million during the quarter. Research analysts anticipate that Baytex Energy Corp will post -0.25 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the business. Fiera Capital Corp raised its holdings in shares of Baytex Energy by 77.8% during the second quarter. Fiera Capital Corp now owns 42,235 shares of the oil and gas producer’s stock valued at $140,000 after acquiring an additional 18,485 shares during the last quarter. Shell Asset Management Co. raised its holdings in shares of 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 valued at $146,000 after acquiring an additional 28,666 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Baytex Energy by 37.2% during the second quarter. CIBC Asset Management Inc now owns 128,046 shares of the oil and gas producer’s stock valued at $426,000 after acquiring an additional 34,752 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Baytex Energy during the second quarter valued at approximately $119,000. Finally, TD Asset Management Inc. raised its holdings in shares of Baytex Energy by 4.0% during the second quarter. TD Asset Management Inc. now owns 977,032 shares of the oil and gas producer’s stock valued at $3,248,000 after acquiring an additional 37,800 shares during the last quarter. 17.13% of the stock is owned by institutional investors and hedge funds.

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About Baytex Energy (NYSE:BTE)

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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