Mitsubishi UFJ Trust & Banking Corp Has $1.43 Million Stock Position in Baytex Energy Corp $BTE

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) by 37.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 446,600 shares of the oil and gas producer’s stock after selling 269,900 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Baytex Energy were worth $1,427,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BTE. Bank of Nova Scotia acquired a new position in Baytex Energy during the 3rd quarter worth approximately $26,000. R Squared Ltd acquired a new position in Baytex Energy during the 3rd quarter worth approximately $31,000. Davis Rea LTD. acquired a new position in Baytex Energy during the 3rd quarter worth approximately $47,000. Kathmere Capital Management LLC acquired a new position in Baytex Energy during the 4th quarter worth approximately $63,000. Finally, Lazard Asset Management LLC acquired a new position in Baytex Energy during the 2nd quarter worth approximately $73,000. 46.15% of the stock is owned by institutional investors and hedge funds.

Baytex Energy Stock Performance

Shares of BTE opened at $5.12 on Tuesday. The company has a current ratio of 3.61, a quick ratio of 3.61 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of -8.97 and a beta of 0.39. The stock has a 50 day moving average of $4.20 and a 200 day moving average of $3.47. Baytex Energy Corp has a 12 month low of $1.44 and a 12 month high of $5.14.

Baytex Energy (NYSE:BTE) (TSE:BTE) last issued its quarterly earnings results on Wednesday, March 4th. The oil and gas producer reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.33). The business had revenue of $251.38 million for the quarter, compared to analysts’ expectations of $545.60 million. Baytex Energy had a negative net margin of 16.96% and a negative return on equity of 5.44%. As a group, sell-side analysts forecast that Baytex Energy Corp will post 0.18 earnings per share for the current year.

Baytex Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were given a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, March 13th. Baytex Energy’s dividend payout ratio (DPR) is presently -12.28%.

Analysts Set New Price Targets

BTE has been the subject of several analyst reports. Raymond James Financial raised Baytex Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 30th. Wall Street Zen raised Baytex Energy from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. TD Cowen downgraded Baytex Energy from a “buy” rating to a “hold” rating in a research note on Friday, January 16th. Weiss Ratings downgraded Baytex Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, March 6th. Finally, Canaccord Genuity Group raised Baytex Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold”.

Baytex Energy Profile

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.