Baytex Energy Corp (NYSE:BTE) Receives Consensus Rating of “Hold” from Analysts

Shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) have earned a consensus recommendation of “Hold” from the eleven analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company.

Several research firms have recently issued reports on BTE. Zacks Research raised Baytex Energy from a “strong sell” rating to a “hold” rating in a report on Thursday, August 20th. TD Securities reaffirmed a “hold” rating on shares of Baytex Energy in a research note on Monday, August 3rd. Weiss Ratings raised shares of Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Baytex Energy in a research note on Friday, July 10th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Baytex Energy in a report on Monday, May 11th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Bank of Nova Scotia bought a new position in Baytex Energy in the third quarter valued at approximately $26,000. Magnetar Financial LLC bought a new position in Baytex Energy in the fourth quarter valued at 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 lifted its holdings in shares of 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 worth $44,000 after acquiring an additional 6,691 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new position in shares of Baytex Energy in the fourth quarter worth about $47,000. 46.15% of the stock is owned by institutional investors.

Baytex Energy Trading Down 1.8%

Shares of BTE stock opened at $4.86 on Friday. The stock has a market cap of $3.36 billion, a P/E ratio of -7.25 and a beta of 0.39. Baytex Energy has a 1 year low of $2.15 and a 1 year high of $5.36. The company has a current ratio of 2.82, a quick ratio of 2.79 and a debt-to-equity ratio of 0.06. The stock has a 50 day simple moving average of $4.36 and a 200 day simple moving average of $4.38.

Baytex Energy (NYSE:BTE) (TSE:BTE) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas producer reported $0.17 EPS for the quarter, topping 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 return on equity of 7.77% and a negative net margin of 26.43%. On average, research analysts predict that Baytex Energy will post 0.41 earnings per share for the current fiscal year.

Baytex Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Baytex Energy’s dividend payout ratio is -10.45%.

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.