Two Sigma Securities LLC Purchases New Position in Baytex Energy Corp $BTE

Two Sigma Securities LLC acquired a new stake in shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 130,363 shares of the oil and gas producer’s stock, valued at approximately $521,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its stake in shares of Baytex Energy by 21.4% in the first quarter. Bank of New York Mellon Corp now owns 15,038 shares of the oil and gas producer’s stock worth $67,000 after acquiring an additional 2,652 shares during the last quarter. Cetera Investment Advisers increased its stake in Baytex Energy by 45.9% during the fourth quarter. Cetera Investment Advisers now owns 16,060 shares of the oil and gas producer’s stock valued at $52,000 after acquiring an additional 5,054 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in Baytex Energy by 98.4% during 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 acquiring an additional 6,691 shares during the period. United Capital Management of KS Inc. raised its holdings in Baytex Energy by 11.1% in the 4th quarter. United Capital Management of KS Inc. now owns 100,000 shares of the oil and gas producer’s stock valued at $323,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Barclays PLC raised its holdings in Baytex Energy by 14.6% in the 4th quarter. Barclays PLC now owns 81,854 shares of the oil and gas producer’s stock valued at $264,000 after acquiring an additional 10,435 shares in the last quarter. Institutional investors own 46.15% of the company’s stock.

Baytex Energy Trading Up 1.3%

Shares of Baytex Energy stock opened at $5.07 on Thursday. The stock has a market capitalization of $3.54 billion, a P/E ratio of -7.56 and a beta of 0.39. The company has a quick ratio of 2.79, a current ratio of 2.82 and a debt-to-equity ratio of 0.06. The company has a 50-day simple moving average of $4.33 and a 200 day simple moving average of $4.37. Baytex Energy Corp has a 12-month low of $2.15 and a 12-month high of $5.36.

Baytex Energy (NYSE:BTE) (TSE:BTE) last released its quarterly earnings results on Thursday, July 30th. The oil and gas producer reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.09. The firm had revenue of $449.32 million for the quarter, compared to analyst estimates of $218.10 million. Baytex Energy had a negative net margin of 26.43% and a negative return on equity of 7.77%. Research analysts expect that Baytex Energy Corp will post 0.41 earnings per share for the current fiscal year.

Baytex Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a $0.0225 dividend. This represents a $0.09 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Baytex Energy’s payout ratio is presently -10.45%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Baytex Energy in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Baytex Energy in a report on Friday, July 10th. Zacks Research upgraded shares of Baytex Energy from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 20th. TD Securities reaffirmed a “hold” rating on shares of Baytex Energy in a report on Monday, August 3rd. Finally, Weiss Ratings upgraded shares of Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock 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.