Encompass Capital Advisors LLC Makes New Investment in Baytex Energy Corp $BTE

Encompass Capital Advisors LLC acquired a new position in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,948,516 shares of the oil and gas producer’s stock, valued at approximately $45,054,000. Baytex Energy makes up approximately 1.8% of Encompass Capital Advisors LLC’s holdings, making the stock its 14th largest position. Encompass Capital Advisors LLC owned approximately 1.86% of Baytex Energy as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cetera Investment Advisers boosted its stake in shares of Baytex Energy by 45.9% during the 4th quarter. Cetera Investment Advisers now owns 16,060 shares of the oil and gas producer’s stock worth $52,000 after purchasing an additional 5,054 shares during the period. Caitong International Asset Management Co. Ltd boosted 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 purchasing an additional 6,691 shares during the period. Lakewood Asset Management LLC boosted its stake in shares of Baytex Energy by 13.3% during the 4th quarter. Lakewood Asset Management LLC now owns 67,571 shares of the oil and gas producer’s stock worth $218,000 after purchasing an additional 7,921 shares during the period. United Capital Management of KS Inc. boosted its stake in shares of Baytex Energy by 11.1% during the 4th quarter. United Capital Management of KS Inc. now owns 100,000 shares of the oil and gas producer’s stock worth $323,000 after purchasing an additional 10,000 shares during the period. Finally, Barclays PLC boosted its stake in shares of Baytex Energy by 14.6% during the 4th quarter. Barclays PLC now owns 81,854 shares of the oil and gas producer’s stock worth $264,000 after purchasing an additional 10,435 shares during the period. 46.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Raymond James Financial raised shares of Baytex Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 30th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Baytex Energy in a research note on Monday, May 11th. Weiss Ratings raised shares of Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Scotiabank reaffirmed an “outperform” rating on shares of Baytex Energy in a research note on Tuesday, April 21st. Finally, TD Securities reaffirmed a “hold” 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 assigned 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, the stock presently has a consensus rating of “Hold”.

Baytex Energy Price Performance

Baytex Energy stock opened at $4.09 on Thursday. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of -5.84 and a beta of 0.37. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.15 and a quick ratio of 2.12. Baytex Energy Corp has a 1 year low of $1.76 and a 1 year high of $5.36. The firm has a 50-day moving average of $4.73 and a two-hundred day moving average of $3.98.

Baytex Energy (NYSE:BTE) (TSE:BTE) last released its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.09). The company had revenue of $325.64 million during the quarter, compared to analysts’ expectations of $228.04 million. Baytex Energy had a negative net margin of 24.25% and a negative return on equity of 10.85%. On average, research analysts forecast that Baytex Energy Corp will post 0.34 earnings per share for the current year.

Baytex Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 15th will be given a $0.0225 dividend. This represents a $0.09 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Monday, June 15th. Baytex Energy’s payout ratio is -8.57%.

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.