Wellington Management Group LLP bought a new position in Baytex Energy Corp (NYSE:BTE – Free Report) (TSE:BTE) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 253,019 shares of the oil and gas producer’s stock, valued at approximately $1,015,000.
Several other hedge funds have also modified their holdings of the company. Bank of Nova Scotia bought a new stake in shares of Baytex Energy in the 3rd quarter valued at about $26,000. Magnetar Financial LLC bought a new position in shares of Baytex Energy during the 4th quarter worth approximately $35,000. Jump Financial LLC bought a new position in shares of Baytex Energy during the 4th quarter worth approximately $39,000. Caitong International Asset Management Co. Ltd raised its stake in shares of 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 acquiring an additional 6,691 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in Baytex Energy during the fourth quarter valued at approximately $47,000. 46.15% of the stock is owned by hedge funds and other institutional investors.
Baytex Energy Stock Performance
Shares of Baytex Energy stock opened at $5.01 on Friday. The firm has a market capitalization of $3.46 billion, a P/E ratio of -7.48 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. The company has a 50 day moving average price of $4.47 and a 200 day moving average price of $4.43. Baytex Energy Corp has a 52 week low of $2.18 and a 52 week high of $5.36.
Baytex Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders 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 dividend yield of 1.8%. The ex-dividend date is Tuesday, September 15th. Baytex Energy’s payout ratio is presently -8.96%.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the stock. Zacks Research upgraded shares of Baytex Energy from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 20th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Baytex Energy in a research report on Friday, July 10th. Weiss Ratings raised Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Finally, TD Securities restated a “hold” rating on shares of Baytex Energy in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.
Check Out Our Latest Research Report on BTE
Baytex Energy Profile
Baytex Energy Corp. is a Canadian oil and natural gas exploration and production company headquartered in Calgary, Alberta. The company focuses on the development and production of crude oil, condensate, natural gas liquids and natural gas from unconventional and conventional reserves.
Baytex operates primarily in the Western Canadian Sedimentary Basin, including resource plays in Alberta and Saskatchewan, and in the Eagle Ford shale in South Texas. Its Canadian operations provide exposure to heavy oil, light oil and natural gas assets, while its Eagle Ford operations are focused largely on liquids-rich production.
Founded in 1993, Baytex has grown through exploration, development and acquisitions.
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