Vanguard Group Inc. Purchases 374,972 Shares of Baytex Energy Corp $BTE

Vanguard Group Inc. increased its position in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,449,680 shares of the oil and gas producer’s stock after purchasing an additional 374,972 shares during the period. Vanguard Group Inc. owned approximately 3.85% of Baytex Energy worth $95,270,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BTE. Bank of Nova Scotia bought a new position in Baytex Energy in the 3rd quarter worth about $26,000. R Squared Ltd purchased a new stake in shares of Baytex Energy during the 3rd quarter valued at about $31,000. Davis Rea LTD. purchased a new stake in shares of Baytex Energy during the 3rd quarter valued at about $47,000. Kathmere Capital Management LLC purchased a new stake in shares of Baytex Energy during the 4th quarter valued at about $63,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Baytex Energy during the 2nd quarter valued at about $73,000. Institutional investors own 46.15% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. TD Cowen lowered shares of Baytex Energy from a “buy” rating to a “hold” rating in a research report on Friday, January 16th. TD Securities reaffirmed a “hold” rating on shares of Baytex Energy in a report on Monday. Scotiabank reaffirmed an “outperform” rating on shares of Baytex Energy in a report on Tuesday, April 21st. Raymond James Financial raised shares of Baytex Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, March 30th. Finally, Weiss Ratings raised shares of Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Baytex Energy Stock Up 0.5%

Shares of BTE opened at $4.96 on Thursday. The company has a market cap of $3.62 billion, a PE ratio of -7.08 and a beta of 0.39. The business has a fifty day moving average of $4.36 and a 200 day moving average of $3.60. Baytex Energy Corp has a 52-week low of $1.56 and a 52-week high of $5.24. The company has a quick ratio of 3.61, a current ratio of 2.15 and a debt-to-equity ratio of 0.06.

Baytex Energy (NYSE:BTE) (TSE:BTE) last issued its quarterly 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 company had revenue of $325.64 million during the quarter, compared to the consensus estimate 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, sell-side analysts expect that Baytex Energy Corp will post 0.18 EPS for the current year.

Baytex Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 15th will be given a $0.0225 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.09 dividend on an annualized basis and a yield of 1.8%. Baytex Energy’s dividend payout ratio (DPR) is currently -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.