Baytex Energy Corp (NYSE:BTE) Given Consensus Rating of “Hold” by Brokerages

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

Several equities research analysts recently issued reports on BTE shares. Canaccord Genuity Group raised Baytex Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Baytex Energy in a research note on Monday, June 1st. Weiss Ratings downgraded Baytex Energy from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday. TD Securities reaffirmed a “hold” rating on shares of Baytex Energy in a research report on Monday, May 11th. Finally, Raymond James Financial raised Baytex Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 30th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Optiver Holding B.V. acquired a new position in Baytex Energy in the 1st quarter worth about $576,000. Amundi acquired a new position in Baytex Energy in the 1st quarter worth about $420,000. Encompass Capital Advisors LLC increased its position in Baytex Energy by 43.9% in the 1st quarter. Encompass Capital Advisors LLC now owns 20,071,614 shares of the oil and gas producer’s stock worth $89,695,000 after purchasing an additional 6,123,098 shares during the last quarter. Lazard Asset Management LLC increased its position in Baytex Energy by 2,091.4% in the 1st quarter. Lazard Asset Management LLC now owns 571,906 shares of the oil and gas producer’s stock worth $2,556,000 after purchasing an additional 545,808 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Baytex Energy by 3.3% in the 1st quarter. Renaissance Technologies LLC now owns 5,471,800 shares of the oil and gas producer’s stock worth $24,459,000 after purchasing an additional 176,900 shares during the last quarter. 46.15% of the stock is owned by institutional investors and hedge funds.

Baytex Energy Stock Up 0.2%

Shares of Baytex Energy stock opened at $4.00 on Monday. The stock has a 50-day moving average price of $4.70 and a 200 day moving average price of $4.01. The company has a market cap of $2.85 billion, a P/E ratio of -5.71 and a beta of 0.37. The company has a current ratio of 2.15, a quick ratio of 2.12 and a debt-to-equity ratio of 0.06. Baytex Energy has a 1 year low of $1.76 and a 1 year high of $5.36.

Baytex Energy (NYSE:BTE) (TSE:BTE) last announced its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.09). The business had revenue of $325.64 million during the quarter, compared to analysts’ expectations of $228.04 million. Baytex Energy had a negative return on equity of 10.85% and a negative net margin of 24.25%. As a group, analysts expect that Baytex Energy will post 0.34 EPS for the current fiscal year.

Baytex Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 15th will be given a $0.0225 dividend. This represents a $0.09 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, June 15th. Baytex Energy’s dividend payout ratio is presently -10.00%.

About Baytex Energy

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.