1,132,926 Shares in Baytex Energy Corp $BTE Acquired by PDT Partners LLC

PDT Partners LLC bought a new stake in shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,132,926 shares of the oil and gas producer’s stock, valued at approximately $4,532,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Legal & General Group Plc bought a new position in Baytex Energy in the second quarter worth approximately $2,257,000. The Manufacturers Life Insurance Company purchased a new position in shares of Baytex Energy during the 2nd quarter worth $2,252,000. Webs Creek Capital Management LP bought a new stake in shares of Baytex Energy during the 2nd quarter valued at $51,086,024,000. Cibc World Market Inc. bought a new stake in shares of Baytex Energy during the 2nd quarter valued at $9,443,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Baytex Energy in the 2nd quarter worth $197,114,000. 46.15% of the stock is owned by hedge funds and other institutional investors.

Baytex Energy Stock Down 2.3%

Shares of BTE stock opened at $4.61 on Wednesday. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of -6.88 and a beta of 0.39. Baytex Energy Corp has a one year low of $2.10 and a one year high of $5.36. The company’s fifty day moving average price is $4.22 and its 200-day moving average price is $4.31. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.82 and a quick ratio of 2.79.

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

Baytex Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a $0.0225 dividend. This represents a $0.09 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, September 15th. Baytex Energy’s payout ratio is presently -10.45%.

Wall Street Analysts Forecast Growth

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

Baytex Energy 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.