Renaissance Technologies LLC Increases Stake in Baytex Energy Corp $BTE

Renaissance Technologies LLC grew its position in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) by 3.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,471,800 shares of the oil and gas producer’s stock after buying an additional 176,900 shares during the period. Renaissance Technologies LLC owned approximately 0.75% of Baytex Energy worth $24,459,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its holdings in Baytex Energy by 816.3% in the 1st 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 during the last quarter. Encompass Capital Advisors LLC purchased a new position in shares of Baytex Energy in the fourth quarter worth $45,054,000. TD Asset Management Inc lifted its holdings 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 valued at $33,321,000 after purchasing an additional 6,564,105 shares in the last quarter. Intact Investment Management Inc. boosted 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 valued at $28,687,000 after buying an additional 6,044,270 shares during the last quarter. Finally, State of Wisconsin Investment Board bought a new stake in Baytex Energy in the 4th quarter worth about $15,690,000. Hedge funds and other institutional investors own 46.15% of the company’s stock.

Baytex Energy Stock Performance

Shares of NYSE BTE opened at $4.17 on Thursday. The firm has a 50 day moving average of $4.37 and a 200 day moving average of $4.17. The company has a current ratio of 2.15, a quick ratio of 2.12 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of -5.96 and a beta of 0.40. Baytex Energy Corp has a 12-month low of $1.93 and a 12-month high of $5.36.

Baytex Energy (NYSE:BTE) (TSE:BTE) last released its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported ($0.08) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $325.64 million during the quarter, compared to the consensus estimate of $228.04 million. On average, research analysts anticipate that Baytex Energy Corp will post 0.26 earnings per share for the current year.

Baytex Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Monday, June 15th were issued a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Monday, June 15th. Baytex Energy’s payout ratio is currently -10.00%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Zacks Research downgraded shares of Baytex Energy from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. TD Securities restated a “hold” rating on shares of Baytex Energy in a research report on Monday, May 11th. Scotiabank reaffirmed an “outperform” rating on shares of Baytex Energy in a research report on Tuesday, April 21st. Weiss Ratings upgraded shares of Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday. Finally, Canaccord Genuity Group raised Baytex Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Baytex Energy currently 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.