Shares of Baytex Energy Corp (NYSE:BTE – Get Free Report) (TSE:BTE) have earned a consensus recommendation of “Hold” from the ten research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company.
A number of brokerages have issued reports on BTE. TD Securities restated a “hold” rating on shares of Baytex Energy in a research report on Monday, May 11th. Zacks Research upgraded shares of Baytex Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Scotiabank restated an “outperform” rating on shares of Baytex Energy in a research report on Tuesday, April 21st. Weiss Ratings upgraded shares of Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Finally, Wall Street Zen upgraded shares of Baytex Energy from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st.
Check Out Our Latest Research Report on Baytex Energy
Baytex Energy Stock Down 3.2%
Baytex Energy (NYSE:BTE – Get Free Report) (TSE:BTE) last announced its earnings results 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). The business had revenue of $325.64 million for the quarter, compared to analyst estimates of $228.04 million. Baytex Energy had a negative return on equity of 10.85% and a negative net margin of 24.25%. On average, research analysts expect that Baytex Energy will post 0.21 earnings per share for the current fiscal year.
Baytex Energy Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 15th will be given a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, June 15th. Baytex Energy’s payout ratio is currently -10.00%.
Hedge Funds Weigh In On Baytex Energy
A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Baytex Energy by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 29,449,680 shares of the oil and gas producer’s stock valued at $95,270,000 after buying an additional 374,972 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Baytex Energy by 816.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 22,003,118 shares of the oil and gas producer’s stock valued at $98,381,000 after buying an additional 19,601,808 shares during the last quarter. Encompass Capital Advisors LLC raised its position in shares of Baytex Energy by 43.9% in the first quarter. Encompass Capital Advisors LLC now owns 20,071,614 shares of the oil and gas producer’s stock valued at $89,695,000 after buying an additional 6,123,098 shares during the last quarter. American Century Companies Inc. raised its position in shares of Baytex Energy by 20.0% in the third quarter. American Century Companies Inc. now owns 14,233,589 shares of the oil and gas producer’s stock valued at $33,342,000 after buying an additional 2,375,496 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Baytex Energy by 7.4% in the second quarter. Alliancebernstein L.P. now owns 10,710,876 shares of the oil and gas producer’s stock valued at $19,172,000 after buying an additional 738,337 shares during the last quarter. Institutional investors and hedge funds own 46.15% of the company’s stock.
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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