Baytex Energy (NYSE:BTE) Stock Price Down 8.2% – What’s Next?

Baytex Energy Corp (NYSE:BTE) (TSE:BTE) fell 8.2% on Friday . The stock traded as low as $3.96 and last traded at $3.9550. 5,351,580 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 21,118,617 shares. The stock had previously closed at $4.31.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BTE. TD Cowen downgraded Baytex Energy from a “buy” rating to a “hold” rating in a report on Friday, January 16th. Canaccord Genuity Group upgraded Baytex Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Weiss Ratings cut Baytex Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, March 6th. Raymond James Financial raised Baytex Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 30th. Finally, Wall Street Zen raised Baytex Energy from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Baytex Energy Stock Performance

The company has a quick ratio of 3.61, a current ratio of 3.61 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.97 billion, a P/E ratio of -7.13 and a beta of 0.32. The firm has a 50 day moving average of $3.98 and a 200-day moving average of $3.30.

Baytex Energy (NYSE:BTE) (TSE:BTE) last announced its earnings results on Wednesday, March 4th. The oil and gas producer reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.33). The company had revenue of $251.38 million for the quarter, compared to the consensus estimate of $545.60 million. Baytex Energy had a negative net margin of 16.96% and a negative return on equity of 5.44%. As a group, sell-side analysts anticipate that Baytex Energy Corp will post 0.31 EPS for the current fiscal year.

Baytex Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were given a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, March 13th. Baytex Energy’s dividend payout ratio (DPR) is -12.28%.

Institutional Trading of Baytex Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Nova Scotia bought a new stake in Baytex Energy during the 3rd quarter valued at $26,000. R Squared Ltd acquired a new stake in shares of Baytex Energy in the 3rd quarter worth $31,000. Magnetar Financial LLC acquired a new stake in shares of Baytex Energy in the 4th quarter worth $35,000. Jump Financial LLC acquired a new stake in shares of Baytex Energy in the 4th quarter worth $39,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Baytex Energy by 98.4% in 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 in the last quarter. Institutional investors own 46.15% of the company’s stock.

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.