420,130 Shares in Baytex Energy Corp $BTE Bought by BTG Pactual Asset Management US LLC

Key Points

• BTG Pactual Asset Management purchased 420,130 Baytex Energy shares worth approximately $1.68 million, while institutional investors collectively own 46.15% of the company.
• Baytex reported quarterly EPS of $0.17, beating the $0.08 analyst consensus, and generated $449.32 million in revenue versus expectations of $218.10 million.
• The company declared a quarterly dividend of $0.0225 per share, equivalent to an annualized $0.09 payout and a 1.9% yield; analysts’ consensus rating remains “Hold.”

BTG Pactual Asset Management US LLC purchased a new stake in shares of Baytex Energy Corp (NYSE:BTE - Free Report) TSE: BTE in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 420,130 shares of the oil and gas producer's stock, valued at approximately $1,681,000. BTG Pactual Asset Management US LLC owned about 0.06% of Baytex Energy as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BTE. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Baytex Energy in the 2nd quarter worth $197,114,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Baytex Energy by 816.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 22,003,118 shares of the oil and gas producer's stock valued at $98,381,000 after acquiring an additional 19,601,808 shares during the last quarter. Ninepoint Partners LP purchased a new stake in shares of Baytex Energy during the second quarter worth about $68,000,000. Encompass Capital Advisors LLC purchased a new stake in shares of Baytex Energy during the fourth quarter worth about $45,054,000. Finally, Webs Creek Capital Management LP bought a new stake in shares of Baytex Energy in the second quarter worth about $51,086,024. Hedge funds and other institutional investors own 46.15% of the company's stock.

Baytex Energy Stock Up 0.2%

BTE stock opened at $4.75 on Monday. Baytex Energy Corp has a fifty-two week low of $2.15 and a fifty-two week high of $5.36. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of -7.09 and a beta of 0.39. The business's 50 day moving average price is $4.27 and its two-hundred day moving average price is $4.34. 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 (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, beating analysts' consensus estimates of $0.08 by $0.09. The company 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%. As a group, analysts forecast that Baytex Energy Corp will post 0.41 earnings per share for the current fiscal year.

Baytex Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Baytex Energy's dividend payout ratio (DPR) is -10.45%.

Wall Street Analyst Weigh In

A number of research firms have commented on BTE. Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Baytex Energy in a research report on Friday, July 10th. TD Securities reissued a "hold" rating on shares of Baytex Energy in a research note on Monday, August 3rd. Royal Bank Of Canada restated a "sector perform" rating on shares of Baytex Energy in a report on Monday, May 11th. Weiss Ratings upgraded shares of Baytex Energy from a "sell (d)" rating to a "sell (d+)" rating in a report 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. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Baytex Energy currently has an average rating of "Hold".

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.

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