Baytex Energy Corp $BTE Stock: Vontobel Holding Ltd. Cuts Stake

Vontobel Holding Ltd. reduced its position in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) by 6.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,757,000 shares of the oil and gas producer’s stock after selling 125,000 shares during the quarter. Vontobel Holding Ltd. owned 0.25% of Baytex Energy worth $7,939,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BTE. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Baytex Energy during the second quarter valued at approximately $197,114,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Baytex Energy by 816.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 22,003,118 shares of the oil and gas producer’s stock valued at $98,381,000 after buying an additional 19,601,808 shares during the last quarter. Encompass Capital Advisors LLC grew its stake in shares of Baytex Energy by 43.9% during the first quarter. Encompass Capital Advisors LLC now owns 20,071,614 shares of the oil and gas producer’s stock valued at $89,695,000 after buying an additional 6,123,098 shares during the last quarter. Ninepoint Partners LP purchased a new stake in shares of Baytex Energy in the second quarter worth approximately $68,000,000. Finally, Webs Creek Capital Management LP purchased a new stake in shares of Baytex Energy in the second quarter worth approximately $51,086,024. Institutional investors own 46.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. TD Securities reissued a “hold” rating on shares of Baytex Energy in a research note on Monday, August 3rd. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Baytex Energy in a research report on Wednesday, September 16th. Zacks Research raised Baytex Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Weiss Ratings upgraded Baytex Energy from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Baytex Energy in a research report on Friday, October 9th. Three equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Baytex Energy Stock Performance

Baytex Energy stock opened at $5.30 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.79 and a current ratio of 2.82. The company has a market capitalization of $3.66 billion, a PE ratio of -7.92 and a beta of 0.40. The company has a 50 day moving average price of $4.76 and a 200-day moving average price of $4.57. Baytex Energy Corp has a fifty-two week low of $2.18 and a fifty-two week high of $5.36.

Baytex Energy (NYSE:BTE) (TSE:BTE) last released its quarterly earnings data on Thursday, July 30th. The oil and gas producer reported $0.17 EPS for the quarter, topping the consensus estimate of $0.08 by $0.09. The company had revenue of $449.32 million for the quarter, compared to the consensus estimate of $218.10 million. Baytex Energy had a negative return on equity of 7.77% and a negative net margin of 26.43%. As a group, equities analysts forecast that Baytex Energy Corp will post 0.42 earnings per share for the current year.

Baytex Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th were issued a C$0.02 dividend. This represents a $0.09 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Tuesday, September 15th. Baytex Energy’s dividend payout ratio is currently -8.96%.

About Baytex Energy

Baytex Energy Corp. (NYSE: BTE) is a Canadian oil and gas exploration and production company headquartered in Calgary, Alberta. The company’s operations are focused on the development and production of crude oil, condensate, natural gas liquids and natural gas.

Baytex’s asset base is concentrated in Western Canada, including the Clearwater and Viking oil plays in Alberta and Saskatchewan, and in the Eagle Ford shale region of South Texas. The company sells its production into North American markets through established pipeline, processing and transportation infrastructure.

Baytex traces its history to the Canadian energy sector in the 1990s and has expanded through a combination of exploration, development and acquisitions.