Baytex Energy Corp (NYSE:BTE) Receives Consensus Recommendation of “Hold” from Brokerages

Baytex Energy Corp (NYSE:BTE) (TSE:BTE) has been given a consensus rating of “Hold” by the ten analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company.

A number of research firms recently issued reports on BTE. Raymond James Financial upgraded shares of Baytex Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, March 30th. TD Securities restated a “hold” rating on shares of Baytex Energy in a report on Monday, May 11th. Royal Bank Of Canada restated a “sector perform” rating on shares of Baytex Energy in a report on Monday, May 11th. Scotiabank restated an “outperform” rating on shares of Baytex Energy in a report on Tuesday, April 21st. Finally, Canaccord Genuity Group upgraded shares of Baytex Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th.

Institutional Investors Weigh In On Baytex Energy

Institutional investors have recently bought and sold shares of the business. Intact Investment Management Inc. grew its stake in 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 buying an additional 6,044,270 shares during the period. Vanguard Group Inc. grew its stake in Baytex Energy by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 29,449,680 shares of the oil and gas producer’s stock worth $95,270,000 after buying an additional 374,972 shares during the period. MH & Associates Securities Management Corp ADV purchased a new stake in Baytex Energy during the fourth quarter worth approximately $321,000. Baron Wealth Management LLC purchased a new stake in Baytex Energy during the fourth quarter worth approximately $124,000. Finally, Kathmere Capital Management LLC purchased a new stake in Baytex Energy during the fourth quarter worth approximately $63,000. 46.15% of the stock is currently owned by hedge funds and other institutional investors.

Baytex Energy Stock Performance

NYSE:BTE opened at $4.75 on Thursday. Baytex Energy has a 1-year low of $1.59 and a 1-year high of $5.36. The firm has a 50 day simple moving average of $4.58 and a 200-day simple moving average of $3.80. The firm has a market cap of $3.47 billion, a PE ratio of -6.78 and a beta of 0.39. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.15 and a quick ratio of 2.12.

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 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 company had revenue of $325.64 million during the quarter, compared to analysts’ expectations of $228.04 million. On average, equities analysts expect that Baytex Energy will post 0.21 EPS for the current year.

Baytex Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 15th will be paid a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, June 15th. Baytex Energy’s payout ratio is currently -10.00%.

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.