Baytex Energy Corp (BTE) Earns Outperform Rating from AltaCorp Capital

Baytex Energy Corp (NYSE:BTE) (TSE:BTE)‘s stock had its “outperform” rating reaffirmed by stock analysts at AltaCorp Capital in a report issued on Monday, May 15th, StockTargetPrices.com reports.

Analyst Recommendations for Baytex Energy Corp (NYSE:BTE)

Baytex Energy Corp (NYSE BTE) traded up 5.42% during trading on Monday, hitting $2.53. 1,992,270 shares of the stock traded hands. The firm’s 50-day moving average is $3.02 and its 200 day moving average is $3.74. The stock’s market cap is $592.54 million. Baytex Energy Corp has a 52 week low of $2.38 and a 52 week high of $6.34.

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Hedge funds have recently made changes to their positions in the company. Paloma Partners Management Co purchased a new stake in shares of Baytex Energy Corp during the first quarter valued at $180,000. KCG Holdings Inc. boosted its stake in shares of Baytex Energy Corp by 109.8% in the first quarter. KCG Holdings Inc. now owns 67,821 shares of the oil and gas producer’s stock valued at $232,000 after buying an additional 35,497 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Baytex Energy Corp by 4.8% in the first quarter. Vanguard Group Inc. now owns 4,443,765 shares of the oil and gas producer’s stock valued at $15,198,000 after buying an additional 204,913 shares in the last quarter. Formidable Asset Management LLC boosted its stake in shares of Baytex Energy Corp by 982.4% in the first quarter. Formidable Asset Management LLC now owns 394,000 shares of the oil and gas producer’s stock valued at $131,000 after buying an additional 357,600 shares in the last quarter. Finally, Sentry Investments Corp. boosted its stake in shares of Baytex Energy Corp by 24.9% in the first quarter. Sentry Investments Corp. now owns 767,800 shares of the oil and gas producer’s stock valued at $3,486,000 after buying an additional 153,000 shares in the last quarter. 19.86% of the stock is owned by hedge funds and other institutional investors.

Baytex Energy Corp Company Profile

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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