3,311,203 Shares in Baytex Energy Corp $BTE Bought by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC purchased a new position in shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,311,203 shares of the oil and gas producer’s stock, valued at approximately $10,710,000. HITE Hedge Asset Management LLC owned 0.44% of Baytex Energy at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bank of Nova Scotia acquired a new stake in shares of Baytex Energy in the 3rd quarter worth $26,000. R Squared Ltd acquired a new stake in shares of Baytex Energy in the 3rd quarter worth $31,000. WINTON GROUP Ltd acquired a new stake in shares of Baytex Energy in the 4th quarter worth $47,000. Kathmere Capital Management LLC acquired a new stake in shares of Baytex Energy in the 4th quarter worth $63,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Baytex Energy in the 4th quarter worth $80,000. Institutional investors and hedge funds own 46.15% of the company’s stock.

Baytex Energy Stock Down 1.0%

Shares of NYSE BTE opened at $4.64 on Friday. The company has a quick ratio of 2.12, a current ratio of 2.15 and a debt-to-equity ratio of 0.06. Baytex Energy Corp has a 52 week low of $1.76 and a 52 week high of $5.36. The firm has a 50-day moving average price of $4.74 and a 200 day moving average price of $3.95. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of -6.62 and a beta of 0.37.

Baytex Energy (NYSE:BTE) (TSE:BTE) last announced its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.09). Baytex Energy had a negative net margin of 24.25% and a negative return on equity of 10.85%. The company had revenue of $325.64 million during the quarter, compared to analyst estimates of $228.04 million. Equities research analysts anticipate that Baytex Energy Corp will post 0.34 EPS for the current fiscal year.

Baytex Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 15th will be paid a $0.0225 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.09 annualized dividend and a dividend yield of 1.9%. Baytex Energy’s dividend payout ratio (DPR) is -10.00%.

Analyst Upgrades and Downgrades

BTE has been the subject of several recent analyst reports. Zacks Research upgraded shares of Baytex Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Baytex Energy in a research note on Monday, June 1st. Scotiabank restated an “outperform” rating on shares of Baytex Energy in a research note on Tuesday, April 21st. Canaccord Genuity Group upgraded shares of Baytex Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of Baytex Energy in a research note on Monday, May 11th. 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 given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold”.

About Baytex Energy

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.