First Trust Advisors LP Has $19.46 Million Stock Position in Baytex Energy Corp $BTE

First Trust Advisors LP raised its stake in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) by 44.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 4,353,530 shares of the oil and gas producer’s stock after acquiring an additional 1,343,285 shares during the period. First Trust Advisors LP’s holdings in Baytex Energy were worth $19,460,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BTE. Intact Investment Management Inc. raised its holdings in shares of Baytex Energy by 214.0% during the fourth quarter. Intact Investment Management Inc. now owns 8,868,370 shares of the oil and gas producer’s stock worth $28,687,000 after acquiring an additional 6,044,270 shares during the period. HITE Hedge Asset Management LLC acquired a new position in Baytex Energy in the 4th quarter worth $10,710,000. Jupiter Asset Management Ltd. bought a new position in Baytex Energy during the 4th quarter worth about $371,000. TD Asset Management Inc increased its holdings in Baytex Energy by 176.3% during the 4th quarter. TD Asset Management Inc now owns 10,287,145 shares of the oil and gas producer’s stock worth $33,321,000 after purchasing an additional 6,564,105 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Baytex Energy by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 29,449,680 shares of the oil and gas producer’s stock worth $95,270,000 after purchasing an additional 374,972 shares in the last quarter. Institutional investors and hedge funds own 46.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BTE shares. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Baytex Energy in a report on Friday, July 10th. Zacks Research downgraded Baytex Energy from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Weiss Ratings raised Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday. Canaccord Genuity Group upgraded Baytex Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Finally, Scotiabank restated an “outperform” rating on shares of Baytex Energy in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Baytex Energy Price Performance

Shares of NYSE BTE opened at $4.17 on Thursday. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of -5.96 and a beta of 0.40. The business has a 50-day moving average of $4.37 and a 200-day moving average of $4.17. 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 fifty-two week low of $1.93 and a fifty-two week high of $5.36.

Baytex Energy (NYSE:BTE) (TSE:BTE) last released its 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). 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, sell-side analysts predict that Baytex Energy Corp will post 0.26 earnings per share for the current fiscal year.

Baytex Energy Announces Dividend

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