SIR Capital Management L.P. Takes Position in Baytex Energy Corp $BTE

SIR Capital Management L.P. purchased a new stake in shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 814,000 shares of the oil and gas producer’s stock, valued at approximately $2,633,000.

Several other large investors have also made changes to their positions in BTE. TD Asset Management Inc lifted its stake in shares of 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 acquiring an additional 6,564,105 shares during the period. Intact Investment Management Inc. lifted its stake in shares of 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 acquiring an additional 6,044,270 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Baytex Energy by 110.6% during the first quarter. Goldman Sachs Group Inc. now owns 7,127,074 shares of the oil and gas producer’s stock valued at $15,893,000 after acquiring an additional 3,743,234 shares during the period. HITE Hedge Asset Management LLC acquired a new position in shares of Baytex Energy during the fourth quarter valued at $10,710,000. Finally, Quadrature Capital Ltd lifted its stake in shares of Baytex Energy by 756.8% during the third quarter. Quadrature Capital Ltd now owns 2,855,200 shares of the oil and gas producer’s stock valued at $6,668,000 after acquiring an additional 2,521,962 shares during the period. Institutional investors and hedge funds own 46.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Baytex Energy in a research note on Monday, May 11th. Scotiabank reaffirmed an “outperform” rating on shares of Baytex Energy in a research note on Tuesday, April 21st. Canaccord Genuity Group raised Baytex Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Weiss Ratings raised Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Finally, Raymond James Financial raised Baytex Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Baytex Energy Stock Down 1.0%

Shares of Baytex Energy stock opened at $4.64 on Friday. Baytex Energy Corp has a 1 year low of $1.76 and a 1 year high of $5.36. The business has a 50-day moving average of $4.74 and a two-hundred day moving average of $3.95. The company has a market capitalization of $3.33 billion, a P/E ratio of -6.62 and a beta of 0.37. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.15 and a quick ratio of 2.12.

Baytex Energy (NYSE:BTE) (TSE:BTE) last announced its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate 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. As a group, equities analysts predict that Baytex Energy Corp will post 0.34 EPS for the current year.

Baytex Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 15th will be issued a $0.0225 dividend. This represents a $0.09 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, June 15th. Baytex Energy’s dividend payout ratio is -10.00%.

Baytex Energy Profile

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.