Guardian Capital Advisors LP Boosts Position in Baytex Energy Corp (BTE)
Guardian Capital Advisors LP grew its holdings in shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) by 6.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 268,334 shares of the oil and gas producer’s stock after buying an additional 17,002 shares during the quarter. Guardian Capital Advisors LP owned approximately 0.11% of Baytex Energy worth $861,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. ING Groep NV acquired a new position in shares of Baytex Energy during the 3rd quarter worth about $271,000. Bank of Nova Scotia increased its stake in shares of Baytex Energy by 26.2% during the 2nd quarter. Bank of Nova Scotia now owns 104,076 shares of the oil and gas producer’s stock worth $253,000 after purchasing an additional 21,587 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Baytex Energy by 46.3% during the 2nd quarter. Van ECK Associates Corp now owns 168,906 shares of the oil and gas producer’s stock worth $410,000 after purchasing an additional 53,451 shares during the last quarter. CIBC World Markets Inc. increased its stake in shares of Baytex Energy by 22.1% during the 2nd quarter. CIBC World Markets Inc. now owns 200,663 shares of the oil and gas producer’s stock worth $488,000 after purchasing an additional 36,361 shares during the last quarter. Finally, BNP Paribas Arbitrage SA acquired a new position in shares of Baytex Energy during the 2nd quarter worth about $891,000. 16.48% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on the stock. GMP Securities lowered shares of Baytex Energy from a “buy” rating to a “hold” rating in a research note on Monday. Zacks Investment Research upgraded shares of Baytex Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Canaccord Genuity reiterated a “buy” rating and issued a $4.25 price target on shares of Baytex Energy in a research note on Thursday, November 2nd. Barclays lowered shares of Baytex Energy from an “equal weight” rating to an “underweight” rating in a research note on Monday, October 30th. Finally, AltaCorp Capital lowered shares of Baytex Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 6th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $6.80.
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Baytex Energy 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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