Baytex Energy Corp (NYSE:BTE) Receives Average Rating of “Hold” from Brokerages

Shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) have been given an average rating of “Hold” by the nine analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have assigned a buy recommendation to the company.

A number of analysts have commented on the stock. Canaccord Genuity Group cut shares of Baytex Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 27th. Zacks Research raised shares of Baytex Energy from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Weiss Ratings cut shares of Baytex Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, March 6th. TD Securities cut shares of Baytex Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, TD Cowen lowered shares of Baytex Energy from a “buy” rating to a “hold” rating in a research report on Friday, January 16th.

Hedge Funds Weigh In On Baytex Energy

Hedge funds have recently modified their holdings of the company. United Capital Management of KS Inc. bought a new position in shares of Baytex Energy in the third quarter worth approximately $211,000. 111 Capital bought a new position in shares of Baytex Energy in the third quarter worth approximately $151,000. TD Asset Management Inc boosted its position in shares of Baytex Energy by 81.3% in the third quarter. TD Asset Management Inc now owns 3,723,040 shares of the oil and gas producer’s stock worth $8,723,000 after purchasing an additional 1,669,627 shares during the period. R Squared Ltd bought a new position in shares of Baytex Energy in the third quarter worth approximately $31,000. Finally, Fiera Capital Corp bought a new position in shares of Baytex Energy in the third quarter worth approximately $105,000. 46.15% of the stock is currently owned by institutional investors.

Baytex Energy Stock Performance

BTE stock traded down $0.30 during midday trading on Wednesday, reaching $4.17. 19,886,017 shares of the company’s stock traded hands, compared to its average volume of 21,750,170. Baytex Energy has a 52-week low of $1.36 and a 52-week high of $4.56. The stock has a market cap of $3.08 billion, a P/E ratio of -7.31 and a beta of 0.32. The company has a current ratio of 3.61, a quick ratio of 3.61 and a debt-to-equity ratio of 0.05. The stock’s 50-day moving average is $0.44 and its 200 day moving average is $0.46.

Baytex Energy (NYSE:BTE) (TSE:BTE) last announced its earnings results on Wednesday, March 4th. The oil and gas producer reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.33). Baytex Energy had a negative net margin of 16.96% and a negative return on equity of 5.44%. The business had revenue of $251.38 million for the quarter, compared to analysts’ expectations of $545.60 million. As a group, analysts anticipate that Baytex Energy will post 0.31 EPS for the current year.

Baytex Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were given a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, March 13th. Baytex Energy’s dividend payout ratio is presently -10.53%.

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.