Baytex Energy Corp (NYSE:BTE) Given Average Rating of "Hold" by Analysts

Key Points

• Analysts maintain a “Hold” consensus: Of 11 firms covering Baytex Energy, five rate it Hold, two Sell, three Buy, and one Strong Buy.
• Baytex reported a quarterly earnings beat, posting $0.17 in EPS versus the $0.08 consensus estimate, while revenue reached $449.32 million compared with expectations of $218.10 million.
• The company declared a quarterly dividend of $0.0225 per share, or $0.09 annualized, representing a 2.0% yield; shares opened at $4.40 after rising 5.3%.

Shares of Baytex Energy Corp (NYSE:BTE - Get Free Report) TSE: BTE have been assigned an average recommendation of "Hold" from the eleven research firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company.

Several analysts have commented on BTE shares. Weiss Ratings raised shares of Baytex Energy from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. Zacks Research cut shares of Baytex Energy from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. Canaccord Genuity Group upgraded Baytex Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 14th. TD Securities reissued a "hold" rating on shares of Baytex Energy in a research report on Monday, August 3rd. Finally, Royal Bank Of Canada restated a "sector perform" rating on shares of Baytex Energy in a research note on Monday, May 11th.

Baytex Energy Stock Up 5.3%

Shares of NYSE:BTE opened at $4.40 on Tuesday. Baytex Energy has a 1 year low of $1.93 and a 1 year high of $5.36. The company has a market capitalization of $3.12 billion, a PE ratio of -6.57 and a beta of 0.39. The business has a fifty day moving average price of $4.26 and a two-hundred day moving average price of $4.22. 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 - Get Free Report) TSE: BTE last released its earnings results on Thursday, July 30th. The oil and gas producer reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.09. The company had revenue of $449.32 million for the quarter, compared to analysts' expectations of $218.10 million. Baytex Energy had a negative return on equity of 7.77% and a negative net margin of 26.43%. Analysts forecast that Baytex Energy will post 0.25 earnings per share for the current year.

Baytex Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a $0.0225 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.09 annualized dividend and a yield of 2.0%. Baytex Energy's dividend payout ratio (DPR) is -10.45%.

Hedge Funds Weigh In On Baytex Energy

Several large investors have recently modified their holdings of BTE. Bank of Nova Scotia purchased a new stake in shares of Baytex Energy during the 3rd quarter valued at approximately $26,000. Magnetar Financial LLC purchased a new stake in shares of Baytex Energy during the fourth quarter worth $35,000. Jump Financial LLC bought a new position in shares of Baytex Energy in the fourth quarter worth $39,000. Caitong International Asset Management Co. Ltd grew its position in shares of Baytex Energy by 98.4% in 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 in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in shares of Baytex Energy in the fourth quarter valued at $47,000. 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.

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