Jupiter Asset Management Ltd. Buys New Shares in Baytex Energy Corp $BTE

Jupiter Asset Management Ltd. purchased a new position in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 114,565 shares of the oil and gas producer’s stock, valued at approximately $371,000.

Several other hedge funds have also bought and sold shares of BTE. Intact Investment Management Inc. lifted its stake in Baytex Energy by 214.0% in the 4th quarter. Intact Investment Management Inc. now owns 8,868,370 shares of the oil and gas producer’s stock worth $28,687,000 after purchasing an additional 6,044,270 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Baytex Energy by 110.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,127,074 shares of the oil and gas producer’s stock worth $15,893,000 after purchasing an additional 3,743,234 shares in the last quarter. Quadrature Capital Ltd lifted its stake in Baytex Energy by 756.8% in the 3rd quarter. Quadrature Capital Ltd now owns 2,855,200 shares of the oil and gas producer’s stock worth $6,668,000 after purchasing an additional 2,521,962 shares in the last quarter. American Century Companies Inc. lifted its stake in Baytex Energy by 20.0% in the 3rd quarter. American Century Companies Inc. now owns 14,233,589 shares of the oil and gas producer’s stock worth $33,342,000 after purchasing an additional 2,375,496 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in Baytex Energy by 446.3% in the 1st quarter. Jane Street Group LLC now owns 2,646,885 shares of the oil and gas producer’s stock worth $5,903,000 after purchasing an additional 2,162,346 shares in the last quarter. Hedge funds and other institutional investors own 46.15% of the company’s stock.

Baytex Energy Stock Performance

Baytex Energy stock opened at $4.89 on Monday. The company’s 50-day moving average price is $4.61 and its 200-day moving average price is $3.83. Baytex Energy Corp has a twelve month low of $1.59 and a twelve month 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 has a market cap of $3.53 billion, a PE ratio of -6.98 and a beta of 0.37.

Baytex Energy (NYSE:BTE) (TSE:BTE) last posted its earnings results 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 return on equity of 10.85% and a negative net margin of 24.25%.The business had revenue of $325.64 million during the quarter, compared to the consensus estimate of $228.04 million. On average, equities research analysts forecast that Baytex Energy Corp will post 0.21 EPS for the current fiscal year.

Baytex Energy Dividend Announcement

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

Analyst Ratings Changes

BTE has been the topic of several research analyst reports. Raymond James Financial upgraded shares of Baytex Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 30th. TD Securities reiterated a “hold” rating on shares of Baytex Energy in a research note on Monday, May 11th. 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. Zacks Research upgraded shares of Baytex Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Finally, Scotiabank reiterated an “outperform” rating on shares of Baytex Energy in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company 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.