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

Baytex Energy Corp (NYSE:BTE) (TSE:BTE) has earned a consensus recommendation of “Hold” from the eleven research firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating on the company.

A number of research analysts have recently issued reports on BTE shares. Scotiabank reiterated an “outperform” rating on shares of Baytex Energy in a research note on Tuesday, April 21st. Raymond James Financial upgraded shares of Baytex Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 30th. Zacks Research downgraded shares of Baytex Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Baytex Energy in a report on Monday, May 11th. Finally, Canaccord Genuity Group upgraded Baytex Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th.

Hedge Funds Weigh In On Baytex Energy

Large investors have recently made changes to their positions in the stock. Bank of Nova Scotia acquired a new stake in shares of Baytex Energy in the third quarter valued at about $26,000. Magnetar Financial LLC acquired a new position in Baytex Energy during the fourth quarter worth about $35,000. Jump Financial LLC acquired a new position in Baytex Energy during the fourth quarter worth about $39,000. Caitong International Asset Management Co. Ltd increased its holdings in Baytex Energy by 98.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,490 shares of the oil and gas producer’s stock valued at $44,000 after buying an additional 6,691 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in Baytex Energy in the fourth quarter valued at about $47,000. Hedge funds and other institutional investors own 46.15% of the company’s stock.

Baytex Energy Stock Performance

NYSE:BTE opened at $4.24 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.15 and a quick ratio of 2.12. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of -6.05 and a beta of 0.40. The firm’s fifty day moving average price is $4.48 and its 200 day moving average price is $4.13. Baytex Energy has a 1-year low of $1.93 and a 1-year high of $5.36.

Baytex Energy (NYSE:BTE) (TSE:BTE) last announced its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). Baytex Energy had a negative return on equity of 10.85% and a negative net margin of 24.25%.The firm had revenue of $325.64 million for the quarter, compared to analysts’ expectations of $228.04 million. On average, sell-side analysts expect that Baytex Energy will post 0.26 EPS for the current year.

Baytex Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Monday, June 15th were given a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Monday, June 15th. Baytex Energy’s payout ratio is presently -10.00%.

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.