CIBC Asset Management Inc lessened its holdings in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) by 28.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 290,026 shares of the oil and gas producer’s stock after selling 116,712 shares during the period. CIBC Asset Management Inc’s holdings in Baytex Energy were worth $512,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of BTE. Blume Capital Management Inc. increased its holdings in Baytex Energy by 182.4% in the 4th quarter. Blume Capital Management Inc. now owns 21,078 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 13,615 shares during the period. CLARET ASSET MANAGEMENT Corp grew its stake in shares of Baytex Energy by 410.0% during the 4th quarter. CLARET ASSET MANAGEMENT Corp now owns 25,500 shares of the oil and gas producer’s stock worth $45,000 after purchasing an additional 20,500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Baytex Energy by 50.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,530 shares of the oil and gas producer’s stock worth $75,000 after purchasing an additional 14,203 shares during the period. Shell Asset Management Co. grew its stake in shares of Baytex Energy by 131.5% during the 3rd quarter. Shell Asset Management Co. now owns 50,466 shares of the oil and gas producer’s stock worth $146,000 after purchasing an additional 28,666 shares during the period. Finally, Worth Venture Partners LLC acquired a new stake in shares of Baytex Energy during the 3rd quarter worth approximately $247,000. Institutional investors own 24.07% of the company’s stock.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of Baytex Energy from a “hold” rating to a “buy” rating and set a $2.00 price objective on the stock in a research note on Thursday, March 7th. Raymond James reaffirmed a “buy” rating on shares of Baytex Energy in a research note on Thursday, March 7th. Macquarie raised shares of Baytex Energy from a “neutral” rating to an “outperform” rating and set a $1.81 price objective on the stock in a research note on Thursday, March 7th. ValuEngine raised shares of Baytex Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, TD Securities reaffirmed a “buy” rating on shares of Baytex Energy in a research note on Monday, December 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $4.09.

Baytex Energy stock opened at $1.68 on Friday. Baytex Energy Corp has a 1 year low of $1.38 and a 1 year high of $4.85. The firm has a market capitalization of $961.57 million, a P/E ratio of -18.67 and a beta of 2.56. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.55 and a current ratio of 0.73.

Baytex Energy (NYSE:BTE) (TSE:BTE) last released its quarterly earnings results on Wednesday, March 6th. The oil and gas producer reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.11. Baytex Energy had a negative net margin of 22.63% and a negative return on equity of 1.71%. The firm had revenue of $271.24 million for the quarter. As a group, analysts forecast that Baytex Energy Corp will post 0.12 EPS for the current year.

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About Baytex Energy

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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Institutional Ownership by Quarter for Baytex Energy (NYSE:BTE)

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