First Trust Advisors LP Purchases 1,343,285 Shares of Baytex Energy Corp $BTE

Key Points

• First Trust Advisors LP increased its Baytex Energy stake by 44.6% in the first quarter, purchasing 1.34 million additional shares and bringing its holdings to 4.35 million shares, or 0.60% of the company.
• Analyst sentiment remains mixed, with ratings ranging from “strong buy” to “strong sell”; MarketBeat’s consensus rating is Hold. Institutional investors collectively own 46.15% of Baytex Energy.
• Baytex shares opened at $4.17, while the company recently reported a quarterly loss of $0.08 per share despite revenue above estimates. It also paid a quarterly dividend of $0.0225 per share, representing a 2.2% annualized yield.

First Trust Advisors LP grew its position in Baytex Energy Corp (NYSE:BTE - Free Report) TSE: BTE by 44.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,353,530 shares of the oil and gas producer's stock after buying an additional 1,343,285 shares during the period. First Trust Advisors LP owned 0.60% of Baytex Energy worth $19,460,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in BTE. Bank of Nova Scotia acquired a new position in shares of Baytex Energy during the third quarter valued at $26,000. Magnetar Financial LLC acquired a new stake in Baytex Energy in the fourth quarter worth about $35,000. Jump Financial LLC acquired a new stake in Baytex Energy in the fourth quarter worth about $39,000. Caitong International Asset Management Co. Ltd raised its holdings 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 purchasing an additional 6,691 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in Baytex Energy during the 4th quarter worth about $47,000. Institutional investors own 46.15% of the company's stock.

Wall Street Analyst Weigh In

BTE has been the topic of several recent research reports. Canaccord Genuity Group raised shares of Baytex Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 14th. TD Securities reissued a "hold" rating on shares of Baytex Energy in a research note on Monday, May 11th. Zacks Research lowered shares of Baytex Energy from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. Scotiabank reaffirmed an "outperform" rating on shares of Baytex Energy in a research note on Tuesday, April 21st. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Baytex Energy in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Baytex Energy has a consensus rating of "Hold".

Baytex Energy Stock Up 4.1%

Shares of NYSE:BTE opened at $4.17 on Thursday. Baytex Energy Corp has a 52 week low of $1.93 and a 52 week high of $5.36. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.12 and a current ratio of 2.15. The company has a market capitalization of $2.98 billion, a PE ratio of -5.96 and a beta of 0.40. The company has a 50 day moving average price of $4.37 and a two-hundred day moving average price of $4.17.

Baytex Energy (NYSE:BTE - Get Free Report) TSE: BTE last announced 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 firm had revenue of $325.64 million for the quarter, compared to the consensus estimate of $228.04 million. Analysts forecast that Baytex Energy Corp will post 0.26 earnings per share for the current year.

Baytex Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Monday, June 15th were paid a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Monday, June 15th. Baytex Energy's payout ratio is presently -10.00%.

Baytex Energy Company 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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