PCJ Investment Counsel Ltd. purchased a new position in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,642,024 shares of the oil and gas producer’s stock, valued at approximately $4,765,000. PCJ Investment Counsel Ltd. owned about 0.30% of Baytex Energy at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ninepoint Partners LP purchased a new position in shares of Baytex Energy in the third quarter worth $14,259,000. FMR LLC raised its holdings in shares of Baytex Energy by 385.1% in the second quarter. FMR LLC now owns 4,367,809 shares of the oil and gas producer’s stock worth $14,519,000 after buying an additional 3,467,400 shares during the last quarter. Davis Rea LTD. purchased a new position in shares of Baytex Energy in the third quarter worth $4,147,000. Luminus Management LLC raised its holdings in shares of Baytex Energy by 17.4% in the second quarter. Luminus Management LLC now owns 10,144,900 shares of the oil and gas producer’s stock worth $33,774,000 after buying an additional 1,504,547 shares during the last quarter. Finally, CIBC World Markets Inc. raised its holdings in shares of Baytex Energy by 38.7% in the second quarter. CIBC World Markets Inc. now owns 326,432 shares of the oil and gas producer’s stock worth $1,087,000 after buying an additional 91,023 shares during the last quarter. 31.17% of the stock is owned by institutional investors and hedge funds.

BTE has been the subject of a number of research analyst reports. ValuEngine cut shares of Baytex Energy from a “hold” rating to a “sell” rating in a report on Friday, September 14th. Scotiabank raised shares of Baytex Energy from a “sector perform” rating to an “outperform” rating in a report on Thursday, August 23rd. Raymond James raised shares of Baytex Energy to a “hold” rating and set a $5.00 target price for the company in a report on Thursday, August 23rd. Desjardins reissued a “buy” rating on shares of Baytex Energy in a report on Friday, November 2nd. Finally, Zacks Investment Research cut shares of Baytex Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $5.21.

Shares of Baytex Energy stock traded down $0.05 during trading on Thursday, hitting $1.89. 36,294 shares of the company’s stock were exchanged, compared to its average volume of 2,462,757. 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 Corp has a 52-week low of $1.67 and a 52-week high of $4.85. The stock has a market cap of $1.07 billion, a PE ratio of -93.50 and a beta of 3.19.

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