Renaissance Technologies LLC Raises Stake in Baytex Energy Corp $BTE

Renaissance Technologies LLC grew its position in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,471,800 shares of the oil and gas producer’s stock after purchasing an additional 176,900 shares during the quarter. Renaissance Technologies LLC’s holdings in Baytex Energy were worth $24,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BTE. Bank of Nova Scotia bought a new stake in shares of Baytex Energy during the 3rd quarter valued at $26,000. Magnetar Financial LLC bought a new position in Baytex Energy in the 4th quarter worth $35,000. Jump Financial LLC purchased a new stake in Baytex Energy in the 4th quarter worth $39,000. Caitong International Asset Management Co. Ltd increased its stake in Baytex Energy by 98.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 13,490 shares of the oil and gas producer’s stock worth $44,000 after buying an additional 6,691 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in Baytex Energy during the fourth quarter valued at about $47,000. 46.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BTE has been the topic of several research analyst reports. Weiss Ratings upgraded Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday. Scotiabank reissued an “outperform” rating on shares of Baytex Energy in a research note on Tuesday, April 21st. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Baytex Energy in a report on Friday, July 10th. Canaccord Genuity Group upgraded Baytex Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Finally, Zacks Research lowered shares of Baytex Energy from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold”.

Baytex Energy Stock Up 4.1%

Shares of BTE stock opened at $4.17 on Thursday. The stock has a market cap of $2.98 billion, a P/E ratio of -5.96 and a beta of 0.40. Baytex Energy Corp has a 52 week low of $1.93 and a 52 week high of $5.36. The company has a quick ratio of 2.12, a current ratio of 2.15 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $4.37 and its two-hundred day simple moving average is $4.17.

Baytex Energy (NYSE:BTE) (TSE:BTE) last issued its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $325.64 million for the quarter, compared to analysts’ expectations of $228.04 million. Analysts predict that Baytex Energy Corp will post 0.26 EPS for the current fiscal year.

Baytex Energy Announces Dividend

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

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.