Baytex Energy Corp (NYSE:BTE) Receives Consensus Recommendation of “Hold” from Brokerages

Baytex Energy Corp (NYSE:BTE) (TSE:BTE) has been given a consensus recommendation of “Hold” by the eleven brokerages that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company.

A number of research analysts have recently commented on the stock. Royal Bank Of Canada restated a “sector perform” rating on shares of Baytex Energy in a research report on Monday, May 11th. TD Securities restated a “hold” rating on shares of Baytex Energy in a research note on Monday, August 3rd. Weiss Ratings raised Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Scotiabank reissued an “outperform” rating on shares of Baytex Energy in a report on Tuesday, April 21st. Finally, Canaccord Genuity Group raised Baytex Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th.

Hedge Funds Weigh In On Baytex Energy

Institutional investors have recently made changes to their positions in the stock. Bank of Nova Scotia bought a new stake in shares of Baytex Energy during the 3rd quarter worth $26,000. Magnetar Financial LLC purchased a new stake in Baytex Energy during the fourth quarter valued at about $35,000. Jump Financial LLC purchased a new stake in Baytex Energy during the fourth quarter valued at about $39,000. Caitong International Asset Management Co. Ltd lifted its stake in Baytex Energy by 98.4% during 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 purchasing an additional 6,691 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in Baytex Energy during the fourth quarter worth about $47,000. Institutional investors own 46.15% of the company’s stock.

Baytex Energy Price Performance

BTE stock opened at $4.40 on Tuesday. The firm has a 50 day moving average of $4.26 and a 200-day moving average of $4.22. 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 has a 12 month low of $1.93 and a 12 month high of $5.36. The firm has a market capitalization of $3.12 billion, a P/E ratio of -6.57 and a beta of 0.39.

Baytex Energy (NYSE:BTE) (TSE:BTE) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas producer reported $0.17 EPS for the quarter, beating 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 analysts’ expectations of $218.10 million. As a group, sell-side analysts predict that Baytex Energy will post 0.25 earnings per share for the current fiscal year.

Baytex Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Baytex Energy’s payout ratio is currently -10.45%.

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.