Baytex Energy Corp (NYSE:BTE) Given Consensus Rating of “Hold” by Analysts

Shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) have been given a consensus rating of “Hold” by the eleven ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company.

Several equities analysts have commented on the stock. Weiss Ratings cut shares of Baytex Energy from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, June 24th. TD Securities reiterated a “hold” 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 report on Friday, July 10th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Baytex Energy in a research note on Monday, May 11th. Finally, Scotiabank restated an “outperform” rating on shares of Baytex Energy in a report on Tuesday, April 21st.

Institutional Investors Weigh In On Baytex Energy

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Baytex Energy by 1.3% in the fourth 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 last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Baytex Energy by 816.3% during the 1st 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 during the last quarter. Encompass Capital Advisors LLC lifted its holdings in Baytex Energy by 43.9% during the 1st 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 during the last quarter. Alliancebernstein L.P. boosted its position in shares of Baytex Energy by 7.4% during the 2nd quarter. Alliancebernstein L.P. now owns 10,710,876 shares of the oil and gas producer’s stock worth $19,172,000 after acquiring an additional 738,337 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in shares of Baytex Energy by 176.3% during the 4th quarter. TD Asset Management Inc now owns 10,287,145 shares of the oil and gas producer’s stock worth $33,321,000 after acquiring an additional 6,564,105 shares in the last quarter. 46.15% of the stock is owned by hedge funds and other institutional investors.

Baytex Energy Stock Down 0.6%

NYSE:BTE opened at $4.11 on Friday. Baytex Energy has a 52 week low of $1.82 and a 52 week high of $5.36. The stock’s fifty day moving average is $4.52 and its two-hundred day moving average is $4.11. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of -5.86 and a beta of 0.40. 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 (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 (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.09). Baytex Energy had a negative return on equity of 10.85% and a negative net margin of 24.25%.The business had revenue of $325.64 million for the quarter, compared to analyst estimates of $228.04 million. Research analysts anticipate that Baytex Energy will post 0.22 EPS for the current year.

Baytex Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Monday, June 15th were issued a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a yield of 2.2%. The ex-dividend date was Monday, June 15th. Baytex Energy’s payout ratio is -10.00%.

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.