Baytex Energy Corp (BTE) – What Are Analysts Thinking About This Stock?

Shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) have been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and three have issued a strong buy recommendation on the company.

Several equities research analysts have weighed in on BTE shares. TD Securities reissued a “hold” rating on shares of Baytex Energy in a report on Monday, August 3rd. Wall Street Zen raised shares of Baytex Energy from a “hold” rating to a “buy” rating in a report on Saturday, October 17th. Scotiabank reiterated an “outperform” rating on shares of Baytex Energy in a research report on Monday, October 19th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Baytex Energy in a report on Friday, October 9th. Finally, Weiss Ratings upgraded Baytex Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday.

Baytex Energy Trading Up 3.3%

Shares of NYSE BTE opened at $5.50 on Friday. The stock has a market capitalization of $3.79 billion, a P/E ratio of -8.20 and a beta of 0.40. The business has a fifty day moving average price of $4.86 and a 200 day moving average price of $4.60. Baytex Energy has a 1-year low of $2.23 and a 1-year high of $5.56. 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 released its quarterly earnings results on Thursday, July 30th. The oil and gas producer reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.09. The business had revenue of $449.32 million for the quarter, compared to analysts’ expectations of $218.10 million. Baytex Energy had a negative net margin of 26.43% and a negative return on equity of 7.77%. Equities research analysts expect that Baytex Energy will post 0.42 EPS for the current fiscal year.

Baytex Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 15th were given a dividend of C$0.02 per share. This represents a $0.09 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, September 15th. Baytex Energy’s dividend payout ratio is -8.96%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BTE. TD Waterhouse Canada Inc. lifted its holdings in Baytex Energy by 12.4% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 113,648 shares of the oil and gas producer’s stock valued at $518,000 after purchasing an additional 12,540 shares in the last quarter. Triasima Portfolio Management inc. acquired a new position in shares of Baytex Energy in the 3rd quarter valued at $1,749,000. Tidal Investments LLC grew its holdings in shares of Baytex Energy by 34.3% during the 2nd quarter. Tidal Investments LLC now owns 229,181 shares of the oil and gas producer’s stock worth $917,000 after purchasing an additional 58,522 shares during the period. Engineers Gate Manager LP purchased a new stake in Baytex Energy in the 2nd quarter valued at about $1,251,000. Finally, Squarepoint Ops LLC raised its stake in shares of Baytex Energy by 49.2% in the 2nd quarter. Squarepoint Ops LLC now owns 82,925 shares of the oil and gas producer’s stock valued at $332,000 after acquiring an additional 27,353 shares during the period. 46.15% of the stock is owned by hedge funds and other institutional investors.

Baytex Energy Company Profile

Baytex Energy Corp. is a Canadian oil and natural gas exploration and production company headquartered in Calgary, Alberta. The company develops and produces crude oil, condensate, natural gas liquids and natural gas.

Baytex’s operations are focused on the Western Canadian Sedimentary Basin in Alberta and Saskatchewan and the Eagle Ford shale in South Texas. Its portfolio includes light oil, heavy oil and natural gas assets, with production sold into North American energy markets.

Founded in 1993, Baytex became a publicly traded corporation in 2010 after operating as an income trust.