Baytex Energy (NYSE:BTE) Upgraded at Zacks Research

Zacks Research upgraded shares of Baytex Energy (NYSE:BTE) (TSE:BTE) from a hold rating to a strong-buy rating in a research report released on Monday,Zacks reports.

Other equities research analysts have also recently issued reports about the stock. Raymond James Financial reissued a “strong-buy” rating on shares of Baytex Energy in a research note on Wednesday, September 16th. TD Securities reaffirmed a “hold” rating on shares of Baytex Energy in a report on Monday, August 3rd. Weiss Ratings upgraded shares of Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Baytex Energy in a research report on Friday, July 10th. Three equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Baytex Energy has a consensus rating of “Moderate Buy”.

Baytex Energy Stock Down 2.5%

BTE opened at $4.58 on Monday. The business’s fifty day moving average is $4.66 and its two-hundred day moving average is $4.53. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.79 and a current ratio of 2.82. The company has a market cap of $3.16 billion, a price-to-earnings ratio of -6.83 and a beta of 0.40. Baytex Energy has a one year low of $2.18 and a one year high of $5.36.

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

Baytex Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 15th were given a dividend of C$0.02 per share. This represents a $0.09 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Tuesday, September 15th. Baytex Energy’s dividend payout ratio (DPR) is currently -8.96%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Capula Management Ltd acquired a new stake in shares of Baytex Energy during the 1st quarter worth about $57,000. Commerce Bank acquired a new position in shares of Baytex Energy in the second quarter valued at approximately $60,000. Bank of New York Mellon Corp purchased a new position in shares of Baytex Energy during the second quarter valued at approximately $60,000. Cetera Investment Advisers lifted its stake in shares of Baytex Energy by 31.5% during the first quarter. Cetera Investment Advisers now owns 21,120 shares of the oil and gas producer’s stock valued at $94,000 after buying an additional 5,060 shares during the period. Finally, Blue Trust Inc. purchased a new position in shares of Baytex Energy during the first quarter valued at approximately $95,000. Institutional investors and hedge funds own 46.15% of the company’s stock.

Baytex Energy Company Profile

Baytex Energy Corp. (NYSE: BTE) is a Canadian oil and gas exploration and production company headquartered in Calgary, Alberta. The company’s operations are focused on the development and production of crude oil, condensate, natural gas liquids and natural gas.

Baytex’s asset base is concentrated in Western Canada, including the Clearwater and Viking oil plays in Alberta and Saskatchewan, and in the Eagle Ford shale region of South Texas. The company sells its production into North American markets through established pipeline, processing and transportation infrastructure.

Baytex traces its history to the Canadian energy sector in the 1990s and has expanded through a combination of exploration, development and acquisitions.