Encompass Capital Advisors LLC Purchases 6,123,098 Shares of Baytex Energy Corp $BTE

Encompass Capital Advisors LLC raised its position in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) by 43.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 20,071,614 shares of the oil and gas producer’s stock after purchasing an additional 6,123,098 shares during the quarter. Baytex Energy accounts for 2.7% of Encompass Capital Advisors LLC’s investment portfolio, making the stock its 7th largest holding. Encompass Capital Advisors LLC’s holdings in Baytex Energy were worth $89,695,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BTE. Magnetar Financial LLC acquired a new stake in shares of Baytex Energy during the fourth quarter worth approximately $35,000. Bank of Nova Scotia acquired a new position in shares of Baytex Energy in the 3rd quarter worth approximately $26,000. Jump Financial LLC acquired a new position in shares of Baytex Energy in the 4th quarter worth approximately $39,000. Capula Management Ltd bought a new stake in Baytex Energy during the 1st quarter worth approximately $57,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Baytex Energy by 98.4% during the fourth 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 during the last quarter. 46.15% of the stock is owned by institutional investors.

Baytex Energy Stock Performance

Shares of Baytex Energy stock opened at $4.13 on Tuesday. The firm has a fifty day moving average of $4.42 and a two-hundred day moving average of $4.16. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of -5.91 and a beta of 0.40. Baytex Energy Corp has a 52 week low of $1.93 and a 52 week high of $5.36. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.12 and a current ratio of 2.15.

Baytex Energy (NYSE:BTE) (TSE:BTE) last posted its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported ($0.08) earnings per share 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 company had revenue of $325.64 million during the quarter, compared to analyst estimates of $228.04 million. As a group, equities research analysts predict that Baytex Energy Corp will post 0.26 EPS for the current year.

Baytex Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Monday, June 15th were paid a $0.0225 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.09 annualized dividend and a yield of 2.2%. Baytex Energy’s dividend payout ratio is presently -10.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Canaccord Genuity Group raised shares of Baytex Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Scotiabank restated an “outperform” rating on shares of Baytex Energy in a research report on Tuesday, April 21st. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Baytex Energy in a research note on Friday, July 10th. Zacks Research lowered shares of Baytex Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Baytex Energy in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold”.

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.