Man Group plc Makes New Investment in Baytex Energy Corp $BTE

Man Group plc bought a new position in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) during the second quarter, HoldingsChannel.com reports. The fund bought 1,205,379 shares of the oil and gas producer’s stock, valued at approximately $4,822,000.

Other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in shares of Baytex Energy by 21.4% in the 1st quarter. Bank of New York Mellon Corp now owns 15,038 shares of the oil and gas producer’s stock valued at $67,000 after acquiring an additional 2,652 shares during the last quarter. Cetera Investment Advisers increased its stake in Baytex Energy by 45.9% during the fourth quarter. Cetera Investment Advisers now owns 16,060 shares of the oil and gas producer’s stock worth $52,000 after acquiring an additional 5,054 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in Baytex Energy by 98.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,490 shares of the oil and gas producer’s stock valued at $44,000 after purchasing an additional 6,691 shares during the period. United Capital Management of KS Inc. raised its position in Baytex Energy by 11.1% during the fourth quarter. United Capital Management of KS Inc. now owns 100,000 shares of the oil and gas producer’s stock valued at $323,000 after purchasing an additional 10,000 shares during the period. Finally, Barclays PLC lifted its stake in shares of Baytex Energy by 14.6% in the 4th quarter. Barclays PLC now owns 81,854 shares of the oil and gas producer’s stock valued at $264,000 after purchasing an additional 10,435 shares during the last quarter. 46.15% of the stock is currently owned by hedge funds and other institutional investors.

Baytex Energy Stock Up 0.2%

Shares of NYSE:BTE opened at $4.75 on Monday. Baytex Energy Corp has a 1 year low of $2.15 and a 1 year high of $5.36. The business has a 50 day simple moving average of $4.27 and a two-hundred day simple moving average of $4.34. The firm has a market capitalization of $3.32 billion, a PE ratio of -7.09 and a beta of 0.39. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.82 and a quick ratio of 2.79.

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

Baytex Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given 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 Tuesday, September 15th. Baytex Energy’s payout ratio is -10.45%.

Wall Street Analysts Forecast Growth

BTE has been the topic of several analyst reports. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Baytex Energy in a research report on Friday, July 10th. Zacks Research upgraded Baytex Energy from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 20th. TD Securities reaffirmed a “hold” rating on shares of Baytex Energy in a research note on Monday, August 3rd. Weiss Ratings upgraded shares of Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Baytex Energy in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Baytex Energy 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.