Baytex Energy Corp (NYSE:BTE) Given Average Recommendation of “Hold” by Brokerages

Shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) have been assigned an average recommendation of “Hold” from the eleven analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company.

A number of brokerages have recently weighed in on BTE. Zacks Research raised shares of Baytex Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Baytex Energy in a research report on Friday, July 10th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Baytex Energy in a research note on Monday, May 11th. Weiss Ratings cut Baytex Energy from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, June 24th. Finally, TD Securities reissued a “hold” rating on shares of Baytex Energy in a research note on Monday, May 11th.

Institutional Trading of Baytex Energy

A number of large investors have recently bought and sold shares of BTE. Bank of New York Mellon Corp boosted its stake in shares of Baytex Energy by 21.4% during the 1st quarter. Bank of New York Mellon Corp now owns 15,038 shares of the oil and gas producer’s stock worth $67,000 after buying an additional 2,652 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Baytex Energy by 45.9% in the fourth quarter. Cetera Investment Advisers now owns 16,060 shares of the oil and gas producer’s stock valued at $52,000 after acquiring an additional 5,054 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Baytex Energy by 98.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,490 shares of the oil and gas producer’s stock valued at $44,000 after acquiring an additional 6,691 shares during the last quarter. Lakewood Asset Management LLC raised its holdings in Baytex Energy by 13.3% during the fourth quarter. Lakewood Asset Management LLC now owns 67,571 shares of the oil and gas producer’s stock worth $218,000 after acquiring an additional 7,921 shares in the last quarter. Finally, United Capital Management of KS Inc. raised its holdings in Baytex Energy by 11.1% during the fourth quarter. United Capital Management of KS Inc. now owns 100,000 shares of the oil and gas producer’s stock worth $323,000 after acquiring an additional 10,000 shares in the last quarter. 46.15% of the stock is owned by institutional investors.

Baytex Energy Stock Performance

Shares of NYSE:BTE opened at $4.20 on Friday. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -5.99 and a beta of 0.40. The firm’s 50 day simple moving average is $4.51 and its 200 day simple moving average is $4.11. 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 has a fifty-two week low of $1.90 and a fifty-two week high of $5.36.

Baytex Energy (NYSE:BTE) (TSE:BTE) last issued its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). Baytex Energy had a negative net margin of 24.25% and a negative return on equity of 10.85%. The firm had revenue of $325.64 million for the quarter, compared to analyst estimates of $228.04 million. As a group, sell-side analysts forecast that Baytex Energy will post 0.26 earnings per share for the current year.

Baytex Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Monday, June 15th were issued 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 payout ratio 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.