Baytex Energy Corp (NYSE:BTE) Receives Average Rating of "Hold" from Analysts

Key Points

• Baytex Energy has a consensus analyst rating of "Hold", based on coverage from 11 brokerages. The split includes one sell, six holds, three buys, and one strong buy.
• The company recently reported a quarterly EPS loss of $0.08, missing estimates, even though revenue of $325.64 million came in above expectations.
• Baytex Energy also declared a quarterly dividend of $0.0225 per share, which works out to an annualized yield of about 2.2%.

Shares of Baytex Energy Corp (NYSE:BTE - Get Free Report) TSE: BTE have been given a consensus recommendation of "Hold" by the eleven brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company.

A number of equities research analysts have recently commented on BTE shares. Zacks Research upgraded shares of Baytex Energy from a "strong sell" rating to a "hold" rating in a research report on Friday, April 3rd. Royal Bank Of Canada restated a "sector perform" rating on shares of Baytex Energy in a research report on Monday, May 11th. Canaccord Genuity Group raised shares of Baytex Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 14th. Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of Baytex Energy in a report on Friday, July 10th. Finally, TD Securities reissued a "hold" rating on shares of Baytex Energy in a research note on Monday, May 11th.

Baytex Energy Stock Performance

Shares of NYSE:BTE opened at $4.11 on Friday. 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 has a 1 year low of $1.82 and a 1 year high of $5.36. The firm has a market capitalization of $2.93 billion, a PE ratio of -5.86 and a beta of 0.40. The business's 50 day moving average price is $4.52 and its 200-day moving average price is $4.11.

Baytex Energy (NYSE:BTE - Get Free Report) TSE: BTE last posted its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.09). Baytex Energy had a negative net margin of 24.25% and a negative return on equity of 10.85%. The firm had revenue of $325.64 million during the quarter, compared to analyst estimates of $228.04 million. As a group, equities research analysts expect that Baytex Energy will post 0.22 earnings per share for the current fiscal year.

Baytex Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Monday, June 15th were given a $0.0225 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 2.2%. Baytex Energy's dividend payout ratio is -10.00%.

Institutional Trading of Baytex Energy

A number of hedge funds and other institutional investors have recently modified their holdings of BTE. Bank of New York Mellon Corp raised its position in shares of Baytex Energy by 21.4% during 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 buying an additional 2,652 shares during the period. 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 increased its stake 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 worth $44,000 after acquiring an additional 6,691 shares during the last quarter. Lakewood Asset Management LLC raised its position in Baytex Energy by 13.3% in the fourth quarter. Lakewood Asset Management LLC now owns 67,571 shares of the oil and gas producer's stock valued at $218,000 after purchasing an additional 7,921 shares during the period. Finally, United Capital Management of KS Inc. raised its position in Baytex Energy by 11.1% in 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. 46.15% of the stock is owned by institutional investors and hedge funds.

Baytex Energy Company 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.

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