Baytex Energy Corp (NYSE:BTE) Stock Now Rated "Hold" by Wall Street Analysts

Key Points

• Wall Street analysts have a consensus “Hold” rating on Baytex Energy, with six hold ratings, two buys, two strong buys, and one sell among 11 analysts.
• Baytex reported quarterly EPS of $0.17, exceeding the $0.08 consensus estimate, while revenue reached $449.32 million versus expectations of $218.10 million.
• The company announced a quarterly dividend of C$0.02 per share, equivalent to an annualized dividend of C$0.09 and a roughly 2.0% yield; institutional investors own 46.15% of the stock.

Shares of Baytex Energy Corp (NYSE:BTE - Get Free Report) TSE: BTE have been assigned a consensus rating of "Hold" from the eleven research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating on the company.

Several research firms have recently weighed in on BTE. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of Baytex Energy in a report on Friday, July 10th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Baytex Energy in a report on Wednesday, September 16th. TD Securities reiterated a "hold" rating on shares of Baytex Energy in a research report on Monday, August 3rd. Weiss Ratings upgraded shares of Baytex Energy from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, July 28th. Finally, Zacks Research raised shares of Baytex Energy from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 20th.

Baytex Energy Stock Performance

Shares of BTE stock opened at $4.47 on Wednesday. The stock's 50-day moving average is $4.61 and its two-hundred day moving average is $4.51. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.79 and a current ratio of 2.82. Baytex Energy has a 1 year low of $2.18 and a 1 year high of $5.36. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of -6.68 and a beta of 0.39.

Baytex Energy (NYSE:BTE - Get Free Report) TSE: BTE last announced its earnings results on Thursday, July 30th. The oil and gas producer reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.09. The firm had revenue of $449.32 million during 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 predict that Baytex Energy will post 0.41 earnings per share for the current year.

Baytex Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a C$0.02 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Baytex Energy's dividend payout ratio is presently -8.96%.

Hedge Funds Weigh In On Baytex Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in BTE. Tidal Investments LLC increased its position in Baytex Energy by 34.3% in the 2nd quarter. Tidal Investments LLC now owns 229,181 shares of the oil and gas producer's stock valued at $917,000 after acquiring an additional 58,522 shares during the period. Engineers Gate Manager LP acquired a new stake in Baytex Energy during the 2nd quarter worth approximately $1,251,000. Squarepoint Ops LLC lifted its position in Baytex Energy by 49.2% during the 2nd quarter. Squarepoint Ops LLC now owns 82,925 shares of the oil and gas producer's stock worth $332,000 after acquiring an additional 27,353 shares during the period. Mraz Amerine & Associates Inc. purchased a new position in shares of Baytex Energy in the 2nd quarter valued at approximately $165,000. Finally, Spark Investment Management LLC purchased a new position in shares of Baytex Energy in the 2nd quarter valued at approximately $1,038,000. Hedge funds and other 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 focuses on the development and production of crude oil, condensate, natural gas liquids and natural gas from unconventional and conventional reserves.

Baytex operates primarily in the Western Canadian Sedimentary Basin, including resource plays in Alberta and Saskatchewan, and in the Eagle Ford shale in South Texas. Its Canadian operations provide exposure to heavy oil, light oil and natural gas assets, while its Eagle Ford operations are focused largely on liquids-rich production.

Founded in 1993, Baytex has grown through exploration, development and acquisitions.

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