Man Group plc Takes Position in Baytex Energy Corp $BTE

Man Group plc bought a new stake in shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,205,379 shares of the oil and gas producer’s stock, valued at approximately $4,822,000. Man Group plc owned approximately 0.17% of Baytex Energy as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of BTE. Bank of Nova Scotia purchased a new stake in Baytex Energy in the 3rd quarter worth $26,000. Magnetar Financial LLC purchased a new position in shares of Baytex Energy in the fourth quarter valued at about $35,000. Jump Financial LLC purchased a new position in shares of Baytex Energy in the fourth quarter valued at about $39,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Baytex Energy by 98.4% in 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 acquiring an additional 6,691 shares during the period. Finally, WINTON GROUP Ltd bought a new position in shares of Baytex Energy in the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 46.15% of the company’s stock.

Baytex Energy Trading Up 0.2%

Shares of BTE stock opened at $4.75 on Monday. Baytex Energy Corp has a 12-month low of $2.15 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. The stock’s 50-day moving average price is $4.27 and its 200-day moving average price is $4.34. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of -7.09 and a beta of 0.39.

Baytex Energy (NYSE:BTE) (TSE:BTE) last posted its earnings results on Thursday, July 30th. The oil and gas producer reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.09. Baytex Energy had a negative return on equity of 7.77% and a negative net margin of 26.43%.The company had revenue of $449.32 million for the quarter, compared to the consensus estimate of $218.10 million. Equities research analysts predict that Baytex Energy Corp will post 0.41 EPS for the current fiscal year.

Baytex Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Tuesday, September 15th. Baytex Energy’s dividend payout ratio is currently -10.45%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BTE shares. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Baytex Energy in a research report on Friday, July 10th. Zacks Research upgraded Baytex Energy from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 20th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Baytex Energy in a report on Monday, May 11th. Weiss Ratings raised shares of Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Finally, TD Securities restated a “hold” rating on shares of Baytex Energy in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

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.