CIBC Asset Management Inc grew its holdings in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) by 217.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 406,738 shares of the oil and gas producer’s stock after purchasing an additional 278,692 shares during the quarter. CIBC Asset Management Inc owned approximately 0.07% of Baytex Energy worth $1,180,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in shares of Baytex Energy in the second quarter valued at approximately $119,000. AMP Capital Investors Ltd acquired a new stake in shares of Baytex Energy in the second quarter valued at approximately $131,000. Fiera Capital Corp grew its position in shares of Baytex Energy by 77.8% in the second quarter. Fiera Capital Corp now owns 42,235 shares of the oil and gas producer’s stock valued at $140,000 after purchasing an additional 18,485 shares during the last quarter. Jane Street Group LLC grew its position in shares of Baytex Energy by 310.8% in the first quarter. Jane Street Group LLC now owns 49,300 shares of the oil and gas producer’s stock valued at $135,000 after purchasing an additional 37,300 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Baytex Energy in the second quarter valued at approximately $168,000. Institutional investors and hedge funds own 15.58% of the company’s stock.
Shares of BTE opened at $1.99 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.57 and a current ratio of 0.55. Baytex Energy Corp has a 1 year low of $1.90 and a 1 year high of $4.85.
Several research firms have recently commented on BTE. ValuEngine upgraded shares of Baytex Energy from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Zacks Investment Research upgraded shares of Baytex Energy from a “sell” rating to a “hold” rating in a research report on Wednesday. Raymond James upgraded shares of Baytex Energy from a “market perform” rating to an “outperform” rating in a research report on Monday, November 5th. TD Securities reiterated a “buy” rating and issued a $5.50 price target on shares of Baytex Energy in a research report on Monday, November 5th. Finally, Scotiabank upgraded shares of Baytex Energy from a “sector perform” rating to an “outperform” rating in a research report on Thursday, August 23rd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $5.10.
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Baytex Energy Profile
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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