Public Employees Retirement System of Ohio Invests $15.54 Million in Baytex Energy Corp $BTE

Key Points

• Public Employees Retirement System of Ohio bought 3.87 million Baytex Energy shares valued at approximately $15.54 million, representing about 0.55% of the company. Institutional investors collectively own 46.15% of Baytex.
• Baytex reported quarterly EPS of $0.17, beating the $0.08 consensus estimate, while revenue reached $449.32 million versus expectations of $218.10 million. Shares recently opened at $4.75, near the upper end of their 52-week range.
• Analysts maintain a generally cautious outlook, with the stock carrying a consensus “Hold” rating. Baytex also announced a quarterly dividend of $0.0225 per share, equivalent to an annualized yield of approximately 1.9%.

Public Employees Retirement System of Ohio purchased a new position in shares of Baytex Energy Corp (NYSE:BTE - Free Report) TSE: BTE during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,874,358 shares of the oil and gas producer's stock, valued at approximately $15,538,000. Public Employees Retirement System of Ohio owned about 0.55% of Baytex Energy at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Baytex Energy in the 2nd quarter worth approximately $197,114,000. Vanguard Group Inc. lifted its position in Baytex Energy by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 29,449,680 shares of the oil and gas producer's stock worth $95,270,000 after buying an additional 374,972 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in 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 worth $98,381,000 after buying an additional 19,601,808 shares during the last quarter. Encompass Capital Advisors LLC boosted its stake in Baytex Energy by 43.9% during the first quarter. Encompass Capital Advisors LLC now owns 20,071,614 shares of the oil and gas producer's stock worth $89,695,000 after buying an additional 6,123,098 shares during the last quarter. Finally, Ninepoint Partners LP purchased a new stake in Baytex Energy in the 2nd quarter valued at $68,000,000. Hedge funds and other institutional investors own 46.15% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. TD Securities reaffirmed a "hold" rating on shares of Baytex Energy in a research note on Monday, August 3rd. Royal Bank Of Canada reissued 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 research report on Tuesday, July 28th. Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of Baytex Energy in a report on Friday, July 10th. Finally, Zacks Research upgraded shares of Baytex Energy from a "strong sell" rating to a "hold" rating in a report on Thursday, August 20th. One 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Hold".

Baytex Energy Stock Performance

Shares of Baytex Energy stock opened at $4.75 on Monday. The firm has a market cap of $3.32 billion, a PE ratio of -7.09 and a beta of 0.39. 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 52 week low of $2.15 and a 52 week high of $5.36. The business's fifty day simple moving average is $4.27 and its 200-day simple moving average is $4.34.

Baytex Energy (NYSE:BTE - Get Free Report) TSE: BTE last issued its quarterly earnings data on Thursday, July 30th. The oil and gas producer reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.09. The firm had revenue of $449.32 million during the quarter, compared to the consensus estimate of $218.10 million. Baytex Energy had a negative return on equity of 7.77% and a negative net margin of 26.43%. Equities analysts forecast 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. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.0225 per share. This represents a $0.09 annualized dividend 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%.

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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