Baytex Energy Corp $BTE Shares Purchased by TD Asset Management Inc

TD Asset Management Inc boosted its stake in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) by 176.3% during the 4th quarter, HoldingsChannel reports. The fund owned 10,287,145 shares of the oil and gas producer’s stock after buying an additional 6,564,105 shares during the period. TD Asset Management Inc’s holdings in Baytex Energy were worth $33,321,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of Nova Scotia acquired a new position in shares of Baytex Energy in the 3rd quarter worth approximately $26,000. R Squared Ltd acquired a new position in shares of Baytex Energy in the 3rd quarter worth approximately $31,000. Kathmere Capital Management LLC acquired a new position in shares of Baytex Energy in the 4th quarter worth approximately $63,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Baytex Energy in the 4th quarter worth approximately $80,000. Finally, SG Americas Securities LLC increased its stake in Baytex Energy by 73.9% during the fourth quarter. SG Americas Securities LLC now owns 27,545 shares of the oil and gas producer’s stock valued at $89,000 after purchasing an additional 11,705 shares during the last quarter. 46.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BTE. TD Securities reiterated a “hold” rating on shares of Baytex Energy in a research note on Monday, May 11th. Canaccord Genuity Group upgraded shares of Baytex Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Scotiabank reiterated an “outperform” rating on shares of Baytex Energy in a research note on Tuesday, April 21st. Weiss Ratings upgraded shares of Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Baytex Energy in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold”.

Baytex Energy Price Performance

BTE opened at $4.77 on Friday. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of -6.81 and a beta of 0.37. Baytex Energy Corp has a fifty-two week low of $1.71 and a fifty-two week high of $5.36. The company’s 50-day moving average price is $4.69 and its 200 day moving average price is $3.89. The company has a quick ratio of 2.12, a current ratio of 2.15 and a debt-to-equity ratio of 0.06.

Baytex Energy (NYSE:BTE) (TSE:BTE) last released its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.09). The firm had revenue of $325.64 million for 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%. As a group, sell-side analysts expect that Baytex Energy Corp will post 0.21 earnings per share for the current year.

Baytex Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 15th will be given a dividend of $0.0225 per share. The ex-dividend date is Monday, June 15th. This represents a $0.09 annualized dividend and a dividend yield of 1.9%. Baytex Energy’s dividend payout ratio is currently -10.00%.

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.