Arrowstreet Capital Limited Partnership Acquires 19,601,808 Shares of Baytex Energy Corp $BTE

Arrowstreet Capital Limited Partnership lifted its holdings in Baytex Energy Corp (NYSE:BTE - Free Report) TSE: BTE by 816.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,003,118 shares of the oil and gas producer's stock after purchasing an additional 19,601,808 shares during the period. Arrowstreet Capital Limited Partnership owned 3.01% of Baytex Energy worth $98,381,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Baytex Energy by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 29,449,680 shares of the oil and gas producer's stock worth $95,270,000 after acquiring an additional 374,972 shares in the last quarter. Encompass Capital Advisors LLC acquired a new stake in Baytex Energy in the 4th quarter worth approximately $45,054,000. Alliancebernstein L.P. lifted its holdings in Baytex Energy by 7.4% in the 2nd quarter. Alliancebernstein L.P. now owns 10,710,876 shares of the oil and gas producer's stock worth $19,172,000 after purchasing an additional 738,337 shares during the last quarter. TD Asset Management Inc boosted its position in Baytex Energy by 176.3% during the fourth quarter. TD Asset Management Inc now owns 10,287,145 shares of the oil and gas producer's stock worth $33,321,000 after purchasing an additional 6,564,105 shares during the period. Finally, Intact Investment Management Inc. boosted its position in Baytex Energy by 214.0% during the fourth quarter. Intact Investment Management Inc. now owns 8,868,370 shares of the oil and gas producer's stock worth $28,687,000 after purchasing an additional 6,044,270 shares during the period. 46.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BTE. Weiss Ratings downgraded shares of Baytex Energy from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, June 24th. Raymond James Financial raised Baytex Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, March 30th. TD Securities reiterated a "hold" rating on shares of Baytex Energy in a research note on Monday, May 11th. Royal Bank Of Canada reissued a "sector perform" rating on shares of Baytex Energy in a research report on Monday, May 11th. Finally, Scotiabank restated an "outperform" rating on shares of Baytex Energy in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold".

Baytex Energy Stock Down 1.5%

Shares of BTE stock opened at $4.33 on Friday. The stock has a market cap of $3.08 billion, a P/E ratio of -6.18 and a beta of 0.40. Baytex Energy Corp has a one year low of $1.93 and a one year high of $5.36. The stock has a fifty day moving average price of $4.44 and a 200 day moving average price of $4.14. 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 (NYSE:BTE - Get Free Report) TSE: BTE last posted its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.09). Baytex Energy had a negative return on equity of 10.85% and a negative net margin of 24.25%.The business had revenue of $325.64 million for the quarter, compared to analyst estimates of $228.04 million. Analysts predict that Baytex Energy Corp will post 0.26 earnings per share for the current year.

Baytex Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Monday, June 15th were given a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Monday, June 15th. Baytex Energy's dividend payout ratio (DPR) is -10.00%.

About Baytex Energy

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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