PenderFund Capital Management Ltd. Takes Position in Baytex Energy Corp $BTE

PenderFund Capital Management Ltd. bought a new stake in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) in the second quarter, HoldingsChannel.com reports. The firm bought 242,300 shares of the oil and gas producer’s stock, valued at approximately $972,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Baytex Energy during the 2nd quarter worth about $197,114,000. Vanguard Group Inc. boosted its stake in shares of Baytex Energy by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 29,449,680 shares of the oil and gas producer’s stock valued at $95,270,000 after buying an additional 374,972 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of 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 buying an additional 19,601,808 shares in the last quarter. Encompass Capital Advisors LLC grew 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 in the last quarter. Finally, Ninepoint Partners LP purchased a new stake in shares of Baytex Energy during the second quarter worth approximately $68,000,000. 46.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Baytex Energy Trading Up 3.1%

BTE opened at $4.83 on Friday. Baytex Energy Corp has a one year low of $2.15 and a one year high of $5.36. The company has a market cap of $3.37 billion, a P/E ratio of -7.20 and a beta of 0.39. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.79 and a current ratio of 2.82. The business’s 50-day simple moving average is $4.25 and its 200-day simple moving average is $4.33.

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

Baytex Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.0225 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.09 dividend on an annualized basis and a yield of 1.9%. Baytex Energy’s dividend payout ratio (DPR) is presently -10.45%.

Baytex Energy Company 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.