Legal & General Group Plc acquired a new position in shares of Baytex Energy Corp (NYSE:BTE - Free Report) TSE: BTE in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 562,746 shares of the oil and gas producer's stock, valued at approximately $2,257,000. Legal & General Group Plc owned 0.08% of Baytex Energy at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of BTE. Bank of Nova Scotia acquired a new position in Baytex Energy during the third quarter worth $26,000. Magnetar Financial LLC acquired a new stake in Baytex Energy in the 4th quarter valued at $35,000. Jump Financial LLC acquired a new stake in Baytex Energy in the 4th quarter valued at $39,000. Caitong International Asset Management Co. Ltd lifted its position in Baytex Energy by 98.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 13,490 shares of the oil and gas producer's stock worth $44,000 after buying an additional 6,691 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in Baytex Energy during the 4th quarter worth about $47,000. 46.15% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on BTE. Royal Bank Of Canada restated a "sector perform" rating on shares of Baytex Energy in a report on Monday, May 11th. TD Securities reiterated a "hold" rating on shares of Baytex Energy in a report on Monday, August 3rd. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of Baytex Energy in a research report on Friday, July 10th. Weiss Ratings raised Baytex Energy from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. Finally, Zacks Research upgraded Baytex Energy from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Baytex Energy has a consensus rating of "Hold".
Read Our Latest Stock Analysis on BTE
Baytex Energy Stock Performance
BTE opened at $4.86 on Friday. The company has a quick ratio of 2.79, a current ratio of 2.82 and a debt-to-equity ratio of 0.06. Baytex Energy Corp has a 12-month low of $2.15 and a 12-month high of $5.36. The business has a 50 day moving average of $4.36 and a 200-day moving average of $4.38. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of -7.25 and a beta of 0.39.
Baytex Energy (NYSE:BTE - Get Free Report) TSE: BTE last posted its earnings results on Thursday, July 30th. The oil and gas producer reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.09. Baytex Energy had a negative return on equity of 7.77% and a negative net margin of 26.43%.The business had revenue of $449.32 million for the quarter, compared to analyst estimates of $218.10 million. On average, equities research analysts expect that Baytex Energy Corp will post 0.41 earnings per share for the current year.
Baytex Energy Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Tuesday, September 15th. Baytex Energy's dividend payout ratio (DPR) is currently -10.45%.
Baytex Energy Profile
(
Free Report)
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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