Baytex Energy Corp (NYSE:BTE) Given Consensus Recommendation of “Hold” by Analysts

Shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) have been assigned a consensus rating of “Hold” from the nine ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating on the company.

BTE has been the subject of a number of research reports. Wall Street Zen upgraded shares of Baytex Energy from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. TD Cowen lowered shares of Baytex Energy from a “buy” rating to a “hold” rating in a research report on Friday, January 16th. Zacks Research upgraded shares of Baytex Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. TD Securities lowered shares of Baytex Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Finally, Canaccord Genuity Group lowered shares of Baytex Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 27th.

Baytex Energy Price Performance

Shares of NYSE:BTE traded down $0.30 during midday trading on Wednesday, reaching $4.17. 19,886,017 shares of the company were exchanged, compared to its average volume of 21,750,170. 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 business’s fifty day moving average is $0.44 and its two-hundred day moving average is $0.46. Baytex Energy has a one year low of $1.36 and a one year high of $4.56. The stock has a market cap of $3.08 billion, a PE ratio of -7.31 and a beta of 0.32.

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

Baytex Energy Dividend Announcement

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

Institutional Investors Weigh In On Baytex Energy

A number of hedge funds have recently bought and sold shares of BTE. Encompass Capital Advisors LLC purchased a new stake in Baytex Energy during the fourth quarter valued at $45,054,000. Canoe Financial LP purchased a new stake in Baytex Energy during the third quarter valued at $19,484,000. TD Asset Management Inc raised its stake in Baytex Energy by 176.3% during the fourth quarter. TD Asset Management Inc now owns 10,287,145 shares of the oil and gas producer’s stock valued at $33,321,000 after purchasing an additional 6,564,105 shares in the last quarter. Intact Investment Management Inc. raised its stake in Baytex Energy by 214.0% during the fourth quarter. Intact Investment Management Inc. now owns 8,868,370 shares of the oil and gas producer’s stock valued at $28,687,000 after purchasing an additional 6,044,270 shares in the last quarter. Finally, State of Wisconsin Investment Board purchased a new stake in Baytex Energy during the fourth quarter valued at $15,690,000. Hedge funds and other institutional investors own 46.15% of the company’s stock.

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.