Baytex Energy Corp (NYSE:BTE) Stock Now Rated “Hold” by Sell-Side Analysts

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

A number of analysts have commented on the stock. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Baytex Energy in a report on Friday, July 10th. Zacks Research upgraded Baytex Energy from a “strong sell” rating to a “hold” rating in a report on Thursday, August 20th. Weiss Ratings upgraded Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Raymond James Financial reiterated a “strong-buy” rating on shares of Baytex Energy in a research report on Wednesday, September 16th. Finally, TD Securities restated a “hold” rating on shares of Baytex Energy in a report on Monday, August 3rd.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Baytex Energy during the second quarter worth $197,114,000. Arrowstreet Capital Limited Partnership lifted its stake in Baytex Energy by 816.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 22,003,118 shares of the oil and gas producer’s stock worth $98,381,000 after purchasing an additional 19,601,808 shares in the last quarter. Encompass Capital Advisors LLC boosted its position in shares of Baytex Energy by 43.9% during the first quarter. Encompass Capital Advisors LLC now owns 20,071,614 shares of the oil and gas producer’s stock worth $89,695,000 after buying an additional 6,123,098 shares during the period. Ninepoint Partners LP purchased a new position in shares of Baytex Energy during the second quarter worth $68,000,000. Finally, Webs Creek Capital Management LP acquired a new position in Baytex Energy during the 2nd quarter worth about $51,086,024. 46.15% of the stock is currently owned by institutional investors and hedge funds.

Baytex Energy Stock Performance

Shares of NYSE:BTE opened at $4.62 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.82 and a quick ratio of 2.79. The business’s 50 day moving average price is $4.62 and its 200-day moving average price is $4.51. The firm has a market capitalization of $3.19 billion, a PE ratio of -6.90 and a beta of 0.40. Baytex Energy has a 1 year low of $2.18 and a 1 year high of $5.36.

Baytex Energy (NYSE:BTE) (TSE:BTE) last announced its earnings results on Thursday, July 30th. The oil and gas producer reported $0.17 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $218.10 million. As a group, equities research analysts expect that Baytex Energy will post 0.41 earnings per share for the current fiscal year.

Baytex Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th were issued a C$0.02 dividend. This represents a $0.09 annualized dividend and a yield of 1.9%. The ex-dividend date was Tuesday, September 15th. Baytex Energy’s payout ratio is presently -8.96%.

Baytex Energy Company Profile

Baytex Energy Corp. (NYSE: BTE) is a Canadian oil and gas exploration and production company headquartered in Calgary, Alberta. The company’s operations are focused on the development and production of crude oil, condensate, natural gas liquids and natural gas.

Baytex’s asset base is concentrated in Western Canada, including the Clearwater and Viking oil plays in Alberta and Saskatchewan, and in the Eagle Ford shale region of South Texas. The company sells its production into North American markets through established pipeline, processing and transportation infrastructure.

Baytex traces its history to the Canadian energy sector in the 1990s and has expanded through a combination of exploration, development and acquisitions.