Baytex Energy Corp (NYSE:BTE) Shares Sold by Davis Rea LTD.

Davis Rea LTD. cut its position in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) by 22.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,114,925 shares of the oil and gas producer’s stock after selling 314,681 shares during the quarter. Baytex Energy makes up about 1.3% of Davis Rea LTD.’s holdings, making the stock its 27th biggest position. Davis Rea LTD. owned about 0.20% of Baytex Energy worth $1,969,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Ninepoint Partners LP bought a new position in shares of Baytex Energy during the third quarter valued at $14,259,000. Vanguard Group Inc grew its position in shares of Baytex Energy by 137.9% during the third quarter. Vanguard Group Inc now owns 12,889,037 shares of the oil and gas producer’s stock worth $37,507,000 after purchasing an additional 7,471,495 shares in the last quarter. FMR LLC boosted its stake in Baytex Energy by 385.1% during the second quarter. FMR LLC now owns 4,367,809 shares of the oil and gas producer’s stock valued at $14,519,000 after buying an additional 3,467,400 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in Baytex Energy during the third quarter valued at approximately $45,435,000. Finally, Vertex One Asset Management Inc. bought a new position in Baytex Energy during the third quarter valued at approximately $1,200,000. Institutional investors own 30.25% of the company’s stock.

Shares of Baytex Energy stock opened at $1.65 on Thursday. The stock has a market capitalization of $871.35 million, a price-to-earnings ratio of -82.50 and a beta of 2.51. Baytex Energy Corp has a 12-month low of $1.38 and a 12-month high of $4.85. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.55 and a quick ratio of 0.55.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research lowered Baytex Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, January 9th. Royal Bank of Canada reaffirmed an “average” rating and set a $5.50 price target on shares of Baytex Energy in a research report on Tuesday, November 6th. TD Securities restated a “buy” rating and issued a $5.50 price target on shares of Baytex Energy in a research note on Monday, November 5th. Raymond James upgraded Baytex Energy from a “market perform” rating to an “outperform” rating in a report on Monday, November 5th. Finally, Desjardins restated a “buy” rating on shares of Baytex Energy in a report on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $4.90.

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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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