Public Employees Retirement System of Ohio Buys Shares of 3,874,358 Baytex Energy Corp $BTE

Public Employees Retirement System of Ohio purchased a new position in shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,874,358 shares of the oil and gas producer’s stock, valued at approximately $15,538,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. PenderFund Capital Management Ltd. acquired a new stake in shares of Baytex Energy in the second quarter valued at $972,000. Bank of America Corp DE acquired a new position in Baytex Energy during the 2nd quarter worth about $16,633,000. Man Group plc purchased a new position in Baytex Energy during the 2nd quarter valued at about $4,822,000. PDT Partners LLC purchased a new position in Baytex Energy during the 2nd quarter valued at about $4,532,000. Finally, Legal & General Group Plc purchased a new position in Baytex Energy during the 2nd quarter valued at about $2,257,000. 46.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BTE. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Baytex Energy in a research note on Friday, July 10th. TD Securities reissued a “hold” rating on shares of Baytex Energy in a research note on Monday, August 3rd. Zacks Research upgraded shares of Baytex Energy from a “strong sell” rating to a “hold” rating in a report on Thursday, August 20th. Weiss Ratings raised shares of Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Baytex Energy in a report on Monday, May 11th. One 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Baytex Energy Trading Up 0.2%

NYSE:BTE opened at $4.75 on Monday. Baytex Energy Corp has a 12-month low of $2.15 and a 12-month high of $5.36. The firm has a market cap of $3.32 billion, a PE ratio of -7.09 and a beta of 0.39. The company has a current ratio of 2.82, a quick ratio of 2.79 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average price of $4.27 and a 200 day moving average price of $4.34.

Baytex Energy (NYSE:BTE) (TSE:BTE) last issued its quarterly earnings results on Thursday, July 30th. The oil and gas producer reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.09. The company had revenue of $449.32 million for the quarter, compared to the consensus estimate of $218.10 million. Baytex Energy had a negative return on equity of 7.77% and a negative net margin of 26.43%. Sell-side analysts anticipate that Baytex Energy Corp will post 0.41 earnings per share for the current fiscal year.

Baytex Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.0225 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.9%. Baytex Energy’s payout ratio is currently -10.45%.

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.