TD Waterhouse Canada Inc. Sells 144,383 Shares of Baytex Energy Corp $BTE

TD Waterhouse Canada Inc. trimmed its stake in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) by 58.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,108 shares of the oil and gas producer’s stock after selling 144,383 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Baytex Energy were worth $395,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Baytex Energy during the 2nd quarter worth approximately $197,114,000. Arrowstreet Capital Limited Partnership lifted its stake in Baytex Energy by 816.3% in 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 purchasing an additional 19,601,808 shares during the last quarter. Ninepoint Partners LP bought a new position in Baytex Energy during the second quarter valued at $68,000,000. Encompass Capital Advisors LLC bought a new position in Baytex Energy during the fourth quarter valued at $45,054,000. Finally, Webs Creek Capital Management LP purchased a new stake in Baytex Energy in the second quarter worth $51,086,024. 46.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Baytex Energy Price Performance

BTE stock opened at $5.04 on Friday. The firm has a 50 day moving average of $4.44 and a 200-day moving average of $4.43. The firm has a market capitalization of $3.48 billion, a P/E ratio of -7.53 and a beta of 0.39. Baytex Energy Corp has a 12 month low of $2.18 and a 12 month 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.

Baytex Energy (NYSE:BTE) (TSE:BTE) last posted its earnings results on Thursday, July 30th. The oil and gas producer reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $449.32 million for the quarter, compared to analyst estimates of $218.10 million. As a group, sell-side analysts predict that Baytex Energy Corp will post 0.41 earnings per share for the current fiscal year.

Baytex Energy Dividend Announcement

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 $0.0225 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.09 annualized dividend and a dividend yield of 1.8%. Baytex Energy’s dividend payout ratio is presently -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.