Baytex Energy Corp $BTE Shares Newly Purchased by Triasima Portfolio Management inc.

Key Points

• Triasima Portfolio Management initiated a Baytex Energy position of 386,100 shares valued at approximately $1.75 million, while institutional investors and hedge funds collectively own 46.15% of the company.
• Analyst sentiment is generally positive: Baytex has an average “Moderate Buy” rating, including three Strong Buy and two Buy recommendations, although six analysts maintain Hold ratings.
• Baytex shares opened at $5.16, near their 52-week high, after the company reported quarterly EPS of $0.17—beating estimates of $0.08—and declared a C$0.02 quarterly dividend.

Triasima Portfolio Management inc. acquired a new position in shares of Baytex Energy Corp (NYSE:BTE - Free Report) TSE: BTE during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 386,100 shares of the oil and gas producer's stock, valued at approximately $1,749,000. Triasima Portfolio Management inc. owned approximately 0.06% of Baytex Energy at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Tidal Investments LLC boosted its holdings in Baytex Energy by 34.3% in the second quarter. Tidal Investments LLC now owns 229,181 shares of the oil and gas producer's stock worth $917,000 after acquiring an additional 58,522 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in Baytex Energy in the second quarter valued at approximately $1,251,000. Squarepoint Ops LLC grew its stake in Baytex Energy by 49.2% in the second quarter. Squarepoint Ops LLC now owns 82,925 shares of the oil and gas producer's stock valued at $332,000 after acquiring an additional 27,353 shares during the period. Mraz Amerine & Associates Inc. acquired a new stake in Baytex Energy in the second quarter valued at approximately $165,000. Finally, Spark Investment Management LLC bought a new stake in shares of Baytex Energy during the second quarter valued at approximately $1,038,000. 46.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BTE. Zacks Research raised Baytex Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 5th. Raymond James Financial reissued a "strong-buy" rating on shares of Baytex Energy in a research report on Wednesday, September 16th. TD Securities restated a "hold" rating on shares of Baytex Energy in a research note on Monday, August 3rd. Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of Baytex Energy in a research note on Friday, October 9th. Finally, Weiss Ratings upgraded shares of Baytex Energy from a "sell (d+)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Baytex Energy presently has an average rating of "Moderate Buy".

Baytex Energy Trading Up 1.5%

Shares of NYSE BTE opened at $5.16 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 fifty-two week low of $2.18 and a fifty-two week high of $5.36. The firm's 50-day simple moving average is $4.74 and its 200 day simple moving average is $4.56.

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 (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.09. The firm had revenue of $449.32 million during the quarter, compared to analyst estimates of $218.10 million. Baytex Energy had a negative net margin of 26.43% and a negative return on equity of 7.77%. As a group, research analysts forecast that Baytex Energy Corp will post 0.41 EPS for the current fiscal year.

Baytex Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 15th were issued a C$0.02 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, September 15th. Baytex Energy's payout ratio is -8.96%.

About Baytex Energy

Baytex Energy Corp. NYSE: BTE is a Canadian oil and gas exploration and production company headquartered in Calgary, Alberta. The company's operations are focused on the development and production of crude oil, condensate, natural gas liquids and natural gas.

Baytex's asset base is concentrated in Western Canada, including the Clearwater and Viking oil plays in Alberta and Saskatchewan, and in the Eagle Ford shale region of South Texas. The company sells its production into North American markets through established pipeline, processing and transportation infrastructure.

Baytex traces its history to the Canadian energy sector in the 1990s and has expanded through a combination of exploration, development and acquisitions.

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