420,130 Shares in Baytex Energy Corp $BTE Acquired by BTG Pactual Asset Management US LLC

BTG Pactual Asset Management US LLC acquired a new stake in shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) in the second quarter, HoldingsChannel reports. The institutional investor acquired 420,130 shares of the oil and gas producer’s stock, valued at approximately $1,681,000.

Other hedge funds have also added to or reduced their stakes in the company. Headlands Technologies LLC raised its position in shares of Baytex Energy by 436.4% in the 2nd quarter. Headlands Technologies LLC now owns 100,570 shares of the oil and gas producer’s stock worth $402,000 after purchasing an additional 81,821 shares during the last quarter. Susquehanna International Group LLP raised its holdings in Baytex Energy by 35.5% in the second quarter. Susquehanna International Group LLP now owns 190,217 shares of the oil and gas producer’s stock worth $761,000 after buying an additional 49,801 shares during the last quarter. Two Sigma Securities LLC purchased a new stake in shares of Baytex Energy during the second quarter valued at approximately $521,000. Wellington Management Group LLP bought a new stake in shares of Baytex Energy during the second quarter valued at approximately $1,015,000. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Baytex Energy during the second quarter valued at approximately $240,000. 46.15% of the stock is owned by institutional investors.

Baytex Energy Trading Up 0.2%

Shares of NYSE:BTE opened at $4.75 on Monday. The stock’s 50-day simple moving average is $4.27 and its two-hundred day simple moving average 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 Corp has a 52-week low of $2.15 and a 52-week high of $5.36. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.79 and a current ratio of 2.82.

Baytex Energy (NYSE:BTE) (TSE:BTE) last released its quarterly earnings results on Thursday, July 30th. The oil and gas producer reported $0.17 EPS for the quarter, beating 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 firm had revenue of $449.32 million during the quarter, compared to analyst estimates of $218.10 million. Analysts expect that Baytex Energy Corp will post 0.41 EPS for the current year.

Baytex Energy Announces Dividend

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

Analyst Upgrades and Downgrades

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