UBS Group AG Sells 506,543 Shares of Baytex Energy Corp $BTE

UBS Group AG cut its stake in shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) by 9.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,622,532 shares of the oil and gas producer’s stock after selling 506,543 shares during the quarter. UBS Group AG owned 0.60% of Baytex Energy worth $14,931,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Baytex Energy by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 29,449,680 shares of the oil and gas producer’s stock worth $95,270,000 after buying an additional 374,972 shares in the last quarter. Baron Wealth Management LLC acquired a new position in shares of Baytex Energy during the fourth quarter worth $124,000. Kathmere Capital Management LLC bought a new stake in Baytex Energy during the 4th quarter worth $63,000. Swiss Life Asset Management Ltd grew its position in Baytex Energy by 90.1% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 32,008 shares of the oil and gas producer’s stock worth $75,000 after acquiring an additional 15,170 shares during the last quarter. Finally, United Capital Management of KS Inc. bought a new stake in Baytex Energy during the 3rd quarter worth $211,000. 46.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on BTE shares. Canaccord Genuity Group upgraded shares of Baytex Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Baytex Energy in a research report on Monday. Raymond James Financial upgraded shares of Baytex Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 30th. Wall Street Zen upgraded shares of Baytex Energy from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, TD Cowen downgraded shares of Baytex Energy from a “buy” rating to a “hold” rating in a research report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Baytex Energy Trading Up 0.5%

Shares of BTE stock opened at $4.96 on Thursday. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of -7.08 and a beta of 0.39. The stock has a 50-day moving average of $4.36 and a 200-day moving average of $3.60. The company has a current ratio of 2.15, a quick ratio of 3.61 and a debt-to-equity ratio of 0.06. Baytex Energy Corp has a 1-year low of $1.56 and a 1-year high of $5.24.

Baytex Energy (NYSE:BTE) (TSE:BTE) last issued its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.09). The company had revenue of $325.64 million during the quarter, compared to analyst estimates of $228.04 million. Baytex Energy had a negative net margin of 24.25% and a negative return on equity of 10.85%. On average, equities research analysts forecast that Baytex Energy Corp will post 0.18 earnings per share for the current year.

Baytex Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 15th will be paid a $0.0225 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.09 annualized dividend and a dividend yield of 1.8%. Baytex Energy’s dividend payout ratio is presently -10.00%.

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.