Baytex Energy Corp $BTE Shares Newly Bought by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. bought a new stake in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) during the third quarter, HoldingsChannel reports. The institutional investor bought 386,100 shares of the oil and gas producer’s stock, valued at approximately $1,749,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BTE. Capula Management Ltd purchased a new stake in shares of Baytex Energy during the 1st quarter worth approximately $57,000. Commerce Bank bought a new stake in shares of Baytex Energy in the 2nd quarter worth approximately $60,000. Bank of New York Mellon Corp bought a new stake in shares of Baytex Energy in the 2nd quarter worth approximately $60,000. Cetera Investment Advisers raised its holdings in shares of Baytex Energy by 31.5% in the 1st quarter. Cetera Investment Advisers now owns 21,120 shares of the oil and gas producer’s stock worth $94,000 after purchasing an additional 5,060 shares during the period. Finally, Blue Trust Inc. bought a new stake in shares of Baytex Energy in the 1st quarter worth approximately $95,000. 46.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BTE has been the topic of several research analyst reports. TD Securities reiterated a “hold” rating on shares of Baytex Energy in a research note on Monday, August 3rd. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Baytex Energy in a research report on Friday, October 9th. Raymond James Financial restated a “strong-buy” rating on shares of Baytex Energy in a research note on Wednesday, September 16th. Weiss Ratings upgraded Baytex Energy from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Finally, Zacks Research raised Baytex Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Three investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Baytex Energy Stock Up 1.5%

Shares of BTE stock opened at $5.16 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.79 and a current ratio of 2.82. The firm’s 50 day moving average is $4.74 and its 200 day moving average is $4.56. Baytex Energy Corp has a 12 month low of $2.18 and a 12 month high of $5.36.

Baytex Energy (NYSE:BTE) (TSE:BTE) last released its quarterly earnings data on Thursday, July 30th. The oil and gas producer reported $0.17 EPS for the quarter, topping the consensus estimate of $0.08 by $0.09. Baytex Energy had a negative net margin of 26.43% and a negative return on equity of 7.77%. The company had revenue of $449.32 million during the quarter, compared to the consensus estimate of $218.10 million. As a group, research analysts expect that Baytex Energy Corp will post 0.41 earnings per share for the current fiscal year.

Baytex Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th were given a dividend of C$0.02 per share. The ex-dividend date was Tuesday, September 15th. This represents a $0.09 annualized dividend and a dividend yield of 1.7%. Baytex Energy’s dividend payout ratio is currently -8.96%.

About Baytex Energy

Baytex Energy Corp. (NYSE: BTE) is a Canadian oil and gas exploration and production company headquartered in Calgary, Alberta. The company’s operations are focused on the development and production of crude oil, condensate, natural gas liquids and natural gas.

Baytex’s asset base is concentrated in Western Canada, including the Clearwater and Viking oil plays in Alberta and Saskatchewan, and in the Eagle Ford shale region of South Texas. The company sells its production into North American markets through established pipeline, processing and transportation infrastructure.

Baytex traces its history to the Canadian energy sector in the 1990s and has expanded through a combination of exploration, development and acquisitions.