Baytex Energy (NYSE:BTE) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Baytex Energy (NYSE:BTE) (TSE:BTE) posted its earnings results on Thursday. The oil and gas producer reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.09, Zacks reports. Baytex Energy had a negative return on equity of 10.85% and a negative net margin of 24.25%.

Baytex Energy Stock Up 3.3%

Shares of BTE stock traded up $0.14 during mid-day trading on Thursday, reaching $4.29. 14,246,886 shares of the company’s stock traded hands, compared to its average volume of 20,586,920. The company’s 50-day moving average price is $4.37 and its 200-day moving average price is $4.17. The company has a market cap of $3.05 billion, a P/E ratio of -6.12 and a beta of 0.40. The company has a quick ratio of 2.12, a current ratio of 2.15 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.

Baytex Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Monday, June 15th were issued a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Monday, June 15th. Baytex Energy’s payout ratio is -10.00%.

Analysts Set New Price Targets

Several analysts recently weighed in on BTE shares. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Baytex Energy in a report on Monday, May 11th. Canaccord Genuity Group raised shares of Baytex Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. Scotiabank reaffirmed an “outperform” rating on shares of Baytex Energy in a research note on Tuesday, April 21st. Weiss Ratings raised shares of Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday. Finally, Zacks Research lowered shares of Baytex Energy from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold”.

Institutional Investors Weigh In On Baytex Energy

Several hedge funds have recently bought and sold shares of the business. Magnetar Financial LLC bought a new position in shares of Baytex Energy during the fourth quarter valued at approximately $35,000. Bank of Nova Scotia bought a new position in Baytex Energy during the 3rd quarter valued at approximately $26,000. Jump Financial LLC bought a new position in Baytex Energy during the 4th quarter valued at approximately $39,000. Caitong International Asset Management Co. Ltd raised 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 valued at $44,000 after buying an additional 6,691 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in Baytex Energy in the fourth quarter worth $47,000. Institutional investors own 46.15% of the company’s stock.

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.