Baytex Energy Corp (BTE) Position Trimmed by Water Island Capital LLC

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Water Island Capital LLC lowered its stake in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) by 70.7% in the first quarter, Holdings Channel reports. The fund owned 137,500 shares of the oil and gas producer’s stock after selling 331,967 shares during the quarter. Water Island Capital LLC’s holdings in Baytex Energy were worth $232,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of BTE. HRT Financial LLC bought a new position in Baytex Energy during the 4th quarter valued at $28,000. Blume Capital Management Inc. grew its stake in Baytex Energy by 182.4% in the fourth quarter. Blume Capital Management Inc. now owns 21,078 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 13,615 shares during the period. CLARET ASSET MANAGEMENT Corp grew its stake in shares of Baytex Energy by 410.0% in the fourth quarter. CLARET ASSET MANAGEMENT Corp now owns 25,500 shares of the oil and gas producer’s stock worth $45,000 after acquiring an additional 20,500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Baytex Energy by 50.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,530 shares of the oil and gas producer’s stock valued at $75,000 after purchasing an additional 14,203 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Baytex Energy during the fourth quarter valued at $89,000. 25.40% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:BTE traded down $0.02 on Wednesday, reaching $1.98. The company had a trading volume of 48,651 shares, compared to its average volume of 2,160,640. Baytex Energy Corp has a 52-week low of $1.38 and a 52-week high of $4.78. The company has a market capitalization of $1.11 billion, a PE ratio of -22.11 and a beta of 2.63. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70.

Baytex Energy (NYSE:BTE) (TSE:BTE) last announced its quarterly earnings results on Thursday, May 2nd. The oil and gas producer reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). Baytex Energy had a negative net margin of 15.71% and a positive return on equity of 1.17%. The company had revenue of $341.05 million during the quarter. Research analysts predict that Baytex Energy Corp will post 0.22 EPS for the current year.

BTE has been the topic of a number of research analyst reports. Zacks Investment Research raised Baytex Energy from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. Macquarie downgraded Baytex Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, January 18th. Veritas Investment Research cut Baytex Energy from a “buy” rating to a “sell” rating in a research report on Tuesday, January 22nd. CIBC restated a “buy” rating on shares of Baytex Energy in a report on Saturday, February 2nd. Finally, Raymond James reiterated a “buy” rating on shares of Baytex Energy in a report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $4.09.

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Baytex Energy Company Profile

Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. The company offers light oil, natural gas liquids, shale and natural gas, heavy gravity crude oil, bitumen, and heavy oil.

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

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