Cibc World Market Inc. Sells 12,976,965 Shares of Baytex Energy Corp $BTE

Cibc World Market Inc. cut its position in shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) by 75.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,178,822 shares of the oil and gas producer’s stock after selling 12,976,965 shares during the quarter. Cibc World Market Inc.’s holdings in Baytex Energy were worth $13,539,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in BTE. Goldman Sachs Group Inc. boosted its position in shares of Baytex Energy by 110.6% during the first quarter. Goldman Sachs Group Inc. now owns 7,127,074 shares of the oil and gas producer’s stock valued at $15,893,000 after purchasing an additional 3,743,234 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Baytex Energy by 446.3% during the first quarter. Jane Street Group LLC now owns 2,646,885 shares of the oil and gas producer’s stock valued at $5,903,000 after purchasing an additional 2,162,346 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Baytex Energy by 19.0% during the second quarter. Geode Capital Management LLC now owns 1,802,016 shares of the oil and gas producer’s stock valued at $3,226,000 after purchasing an additional 287,454 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Baytex Energy by 10.7% during the second quarter. Russell Investments Group Ltd. now owns 144,757 shares of the oil and gas producer’s stock valued at $261,000 after purchasing an additional 14,050 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Baytex Energy by 18.4% during the second quarter. Invesco Ltd. now owns 465,450 shares of the oil and gas producer’s stock valued at $833,000 after purchasing an additional 72,431 shares in the last quarter. 46.15% of the stock is currently owned by institutional investors.

Baytex Energy Trading Down 6.2%

Baytex Energy stock opened at $4.77 on Friday. The company has a current ratio of 2.15, a quick ratio of 2.12 and a debt-to-equity ratio of 0.06. The business’s fifty day simple moving average is $4.69 and its two-hundred day simple moving average is $3.89. Baytex Energy Corp has a 12 month low of $1.71 and a 12 month high of $5.36. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of -6.81 and a beta of 0.37.

Baytex Energy (NYSE:BTE) (TSE:BTE) last released its earnings results 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 return on equity of 10.85% and a negative net margin of 24.25%.The company had revenue of $325.64 million during the quarter, compared to the consensus estimate of $228.04 million. As a group, equities analysts predict that Baytex Energy Corp will post 0.21 earnings per share for the current fiscal year.

Baytex Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 15th will be issued a $0.0225 dividend. This represents a $0.09 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, June 15th. Baytex Energy’s payout ratio is -8.57%.

Wall Street Analyst Weigh In

BTE has been the topic of several research reports. Weiss Ratings upgraded Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Raymond James Financial upgraded Baytex Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 30th. Canaccord Genuity Group upgraded Baytex Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. Scotiabank restated an “outperform” rating on shares of Baytex Energy in a research report on Tuesday, April 21st. Finally, TD Securities reissued a “hold” rating on shares of Baytex Energy in a report on Monday, May 11th. 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, Baytex Energy currently has an average 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.