Baytex Energy Corp (NYSE:BTE) Given Average Recommendation of “Hold” by Brokerages

Shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) have been given an average recommendation of “Hold” by the eleven brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company.

Several equities analysts have recently issued reports on the company. TD Securities reaffirmed a “hold” rating on shares of Baytex Energy in a report on Monday, May 11th. Weiss Ratings raised Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Scotiabank reissued an “outperform” rating on shares of Baytex Energy in a research report on Tuesday, April 21st. Royal Bank Of Canada reissued a “sector perform” rating on shares of Baytex Energy in a research report on Monday, May 11th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Baytex Energy in a research report on Monday, June 1st.

Baytex Energy Stock Performance

BTE stock opened at $3.97 on Monday. The firm has a market cap of $2.85 billion, a PE ratio of -5.66 and a beta of 0.37. The company has a quick ratio of 2.12, a current ratio of 2.15 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average of $4.72 and a 200-day moving average of $3.99. Baytex Energy has a 12-month low of $1.76 and a 12-month high of $5.36.

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 (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.09). The business had revenue of $325.64 million during the quarter, compared to the consensus estimate of $228.04 million. Baytex Energy had a negative net margin of 24.25% and a negative return on equity of 10.85%. As a group, sell-side analysts expect that Baytex Energy will post 0.34 earnings per share for the current year.

Baytex Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 15th will be given a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Monday, June 15th. Baytex Energy’s dividend payout ratio (DPR) is currently -10.00%.

Institutional Trading of Baytex Energy

A number of large investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership lifted its position in shares of Baytex Energy by 816.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 22,003,118 shares of the oil and gas producer’s stock worth $98,381,000 after acquiring an additional 19,601,808 shares in the last quarter. Encompass Capital Advisors LLC purchased a new stake in shares of Baytex Energy during the fourth quarter worth $45,054,000. TD Asset Management Inc lifted its position in shares of Baytex Energy by 176.3% during the fourth quarter. TD Asset Management Inc now owns 10,287,145 shares of the oil and gas producer’s stock worth $33,321,000 after acquiring an additional 6,564,105 shares in the last quarter. Intact Investment Management Inc. lifted its position in shares of Baytex Energy by 214.0% during the fourth quarter. Intact Investment Management Inc. now owns 8,868,370 shares of the oil and gas producer’s stock worth $28,687,000 after acquiring an additional 6,044,270 shares in the last quarter. Finally, State of Wisconsin Investment Board purchased a new stake in shares of Baytex Energy during the fourth quarter worth $15,690,000. 46.15% of the stock is owned by hedge funds and other institutional investors.

About Baytex Energy

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.