Baytex Energy Corp (BTE) - What Are Investment Firms Thinking About This Stock?

Key Points

• Analyst sentiment is moderately bullish: Eleven firms collectively rate Baytex Energy a “Moderate Buy,” with three strong-buy, two buy, and six hold recommendations.
• Baytex shares opened at $5.50, near their 52-week high of $5.56, while the company reported quarterly EPS of $0.17—more than double analysts’ $0.08 consensus—and revenue of $449.32 million.
• The company pays a quarterly dividend of C$0.02, equivalent to an annualized yield of about 1.6%; institutional investors own 46.15% of its stock.

Baytex Energy Corp (NYSE:BTE - Get Free Report) TSE: BTE has received a consensus recommendation of "Moderate Buy" from the eleven research firms that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation, two have given a buy recommendation and three have issued a strong buy recommendation on the company.

Several equities research analysts have recently weighed in on BTE shares. Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of Baytex Energy in a research report on Friday, October 9th. Zacks Research raised shares of Baytex Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 5th. Raymond James Financial restated a "strong-buy" rating on shares of Baytex Energy in a report on Wednesday, September 16th. Weiss Ratings raised shares of Baytex Energy from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday. Finally, TD Securities reaffirmed a "hold" rating on shares of Baytex Energy in a report on Monday, August 3rd.

Baytex Energy Trading Up 3.3%

Shares of Baytex Energy stock opened at $5.50 on Friday. The stock has a fifty day moving average price of $4.86 and a 200-day moving average price of $4.60. 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 has a 1 year low of $2.23 and a 1 year high of $5.56. The firm has a market cap of $3.79 billion, a PE ratio of -8.20 and a beta of 0.40.

Baytex Energy (NYSE:BTE - Get Free Report) TSE: BTE last posted its quarterly 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. Baytex Energy had a negative net margin of 26.43% and a negative return on equity of 7.77%. The company had revenue of $449.32 million for the quarter, compared to analysts' expectations of $218.10 million. Equities research analysts anticipate that Baytex Energy will post 0.42 EPS for the current year.

Baytex Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th were issued a C$0.02 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.09 dividend on an annualized basis and a yield of 1.6%. Baytex Energy's dividend payout ratio is currently -8.96%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Capula Management Ltd purchased a new stake in shares of Baytex Energy during the first quarter worth about $57,000. Commerce Bank purchased a new position in shares of Baytex Energy in the 2nd quarter worth approximately $60,000. Bank of New York Mellon Corp purchased a new position in shares of Baytex Energy during the 2nd quarter worth about $60,000. Cetera Investment Advisers grew its stake in shares of Baytex Energy by 31.5% during the first quarter. Cetera Investment Advisers now owns 21,120 shares of the oil and gas producer's stock valued at $94,000 after buying an additional 5,060 shares during the last quarter. Finally, Blue Trust Inc. bought a new position in Baytex Energy in the 1st quarter valued at $95,000. Institutional investors own 46.15% of the company's stock.

Baytex Energy Company Profile

Baytex Energy Corp. is a Canadian oil and natural gas exploration and production company headquartered in Calgary, Alberta. The company develops and produces crude oil, condensate, natural gas liquids and natural gas.

Baytex's operations are focused on the Western Canadian Sedimentary Basin in Alberta and Saskatchewan and the Eagle Ford shale in South Texas. Its portfolio includes light oil, heavy oil and natural gas assets, with production sold into North American energy markets.

Founded in 1993, Baytex became a publicly traded corporation in 2010 after operating as an income trust.

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