Cibc World Market Inc. Decreases Holdings in Baytex Energy Corp $BTE

Cibc World Market Inc. cut its holdings in shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) by 75.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,178,822 shares of the oil and gas producer’s stock after selling 12,976,965 shares during the quarter. Cibc World Market Inc. owned approximately 0.56% of Baytex Energy worth $13,539,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Jupiter Asset Management Ltd. purchased a new stake in shares of Baytex Energy during the 4th quarter valued at $371,000. Geode Capital Management LLC increased its position in shares of Baytex Energy by 16.9% during the 4th quarter. Geode Capital Management LLC now owns 1,177,794 shares of the oil and gas producer’s stock valued at $3,804,000 after purchasing an additional 170,527 shares during the last quarter. Intact Investment Management Inc. increased its position in shares of Baytex Energy by 214.0% during the 4th quarter. Intact Investment Management Inc. now owns 8,868,370 shares of the oil and gas producer’s stock valued at $28,687,000 after purchasing an additional 6,044,270 shares during the last quarter. R Squared Ltd increased its position in shares of Baytex Energy by 83.4% during the 4th quarter. R Squared Ltd now owns 23,977 shares of the oil and gas producer’s stock valued at $77,000 after purchasing an additional 10,900 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Baytex Energy by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 29,449,680 shares of the oil and gas producer’s stock valued at $95,270,000 after purchasing an additional 374,972 shares during the last quarter. 46.15% of the stock is owned by hedge funds and other institutional investors.

Baytex Energy Price Performance

BTE opened at $4.77 on Friday. 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 52-week low of $1.71 and a 52-week high of $5.36. The stock has a market capitalization of $3.45 billion, a PE ratio of -6.81 and a beta of 0.37. The stock’s 50 day moving average price is $4.69 and its 200-day moving average price is $3.89.

Baytex Energy (NYSE:BTE) (TSE:BTE) last posted its earnings results on Thursday, May 7th. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $325.64 million for the quarter, compared to analysts’ expectations of $228.04 million. On average, equities research analysts predict that Baytex Energy Corp will post 0.21 EPS for the current year.

Baytex Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 15th will be paid a dividend of $0.0225 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.09 annualized dividend and a dividend yield of 1.9%. Baytex Energy’s payout ratio is -8.57%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Weiss Ratings raised Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Raymond James Financial upgraded Baytex Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 30th. Canaccord Genuity Group raised Baytex Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. TD Securities reaffirmed a “hold” rating on shares of Baytex Energy in a research note on Monday, May 11th. Finally, Zacks Research raised Baytex Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold”.

Baytex Energy Company 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.