Shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) gapped down before the market opened on Thursday . The stock had previously closed at $2.02, but opened at $1.94. Baytex Energy shares last traded at $1.85, with a volume of 2276655 shares changing hands.

A number of brokerages have commented on BTE. CIBC reaffirmed a “buy” rating and set a $5.75 target price on shares of Baytex Energy in a report on Wednesday, November 21st. Zacks Investment Research raised shares of Baytex Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 7th. Royal Bank of Canada reissued an “average” rating and issued a $5.50 price objective on shares of Baytex Energy in a research note on Tuesday, November 6th. Raymond James raised shares of Baytex Energy from a “market perform” rating to an “outperform” rating in a research note on Monday, November 5th. Finally, TD Securities reissued a “buy” rating and issued a $5.50 price objective on shares of Baytex Energy in a research note on Monday, November 5th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $5.21.

The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market capitalization of $1.02 billion, a PE ratio of -93.00 and a beta of 3.19.

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

Several large investors have recently modified their holdings of the stock. Marshall Wace LLP purchased a new stake in shares of Baytex Energy during the third quarter worth approximately $1,743,000. Vanguard Group Inc. increased its stake in shares of Baytex Energy by 137.9% during the third quarter. Vanguard Group Inc. now owns 12,889,037 shares of the oil and gas producer’s stock worth $37,507,000 after buying an additional 7,471,495 shares during the period. Morgan Stanley increased its stake in shares of Baytex Energy by 48.3% during the third quarter. Morgan Stanley now owns 4,616,825 shares of the oil and gas producer’s stock worth $13,435,000 after buying an additional 1,504,301 shares during the period. Legal & General Group Plc increased its stake in shares of Baytex Energy by 23.8% during the third quarter. Legal & General Group Plc now owns 688,253 shares of the oil and gas producer’s stock worth $1,997,000 after buying an additional 132,378 shares during the period. Finally, Nordea Investment Management AB purchased a new stake in shares of Baytex Energy during the third quarter worth approximately $6,884,000. Hedge funds and other institutional investors own 31.17% of the company’s stock.

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Baytex Energy Company Profile (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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