Jupiter Asset Management Ltd. Makes New Investment in Baytex Energy Corp $BTE

Jupiter Asset Management Ltd. bought a new position in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 114,565 shares of the oil and gas producer’s stock, valued at approximately $371,000.

A number of other large investors have also added to or reduced their stakes in BTE. Bank of Nova Scotia purchased a new position in shares of Baytex Energy during the 3rd quarter worth $26,000. R Squared Ltd purchased a new position in shares of Baytex Energy during the 3rd quarter worth $31,000. Kathmere Capital Management LLC purchased a new position in shares of Baytex Energy during the 4th quarter worth $63,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Baytex Energy during the 4th quarter worth $80,000. Finally, SG Americas Securities LLC boosted its stake in shares of Baytex Energy by 73.9% during the 4th quarter. SG Americas Securities LLC now owns 27,545 shares of the oil and gas producer’s stock worth $89,000 after acquiring an additional 11,705 shares during the last quarter. Institutional investors own 46.15% of the company’s stock.

Baytex Energy Stock Down 0.1%

BTE opened at $4.89 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.12 and a current ratio of 2.15. Baytex Energy Corp has a fifty-two week low of $1.59 and a fifty-two week high of $5.36. The firm’s fifty day moving average is $4.61 and its 200 day moving average is $3.83. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of -6.98 and a beta of 0.37.

Baytex Energy (NYSE:BTE) (TSE:BTE) last released its earnings results on Thursday, May 7th. The oil and gas producer reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). Baytex Energy had a negative net margin of 24.25% and a negative return on equity of 10.85%. The firm had revenue of $325.64 million for the quarter, compared to analysts’ expectations of $228.04 million. On average, sell-side analysts forecast that Baytex Energy Corp will post 0.21 earnings per share for the current fiscal year.

Baytex Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 15th will be paid a dividend of $0.0225 per share. The ex-dividend date is Monday, June 15th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.8%. Baytex Energy’s payout ratio is -10.00%.

Wall Street Analyst Weigh In

BTE has been the topic of several analyst reports. Weiss Ratings upgraded shares of Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. TD Securities reiterated a “hold” rating on shares of Baytex Energy in a research note on Monday, May 11th. Scotiabank reiterated an “outperform” rating on shares of Baytex Energy in a research note on Tuesday, April 21st. Canaccord Genuity Group upgraded shares of Baytex Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Finally, Raymond James Financial upgraded shares of Baytex Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Baytex Energy has a consensus rating of “Hold”.

Baytex Energy Profile

Baytex Energy Corp. is an oil & gas exploration and production company. The firm engages in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. The company was founded on June 3, 1993 and is headquartered in Calgary, Canada.