Baytex Energy (NYSE:BTE) Sets New 12-Month High – Still a Buy?

Baytex Energy Corp (NYSE:BTE) (TSE:BTE) shares hit a new 52-week high during trading on Monday . The stock traded as high as $5.29 and last traded at $5.2950, with a volume of 4238041 shares trading hands. The stock had previously closed at $5.17.

Analyst Ratings Changes

Several research analysts have recently weighed in on BTE shares. Raymond James Financial upgraded Baytex Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 30th. Zacks Research upgraded Baytex Energy from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Scotiabank reissued an “outperform” rating on shares of Baytex Energy in a research report on Tuesday, April 21st. 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. Finally, TD Securities reaffirmed a “hold” rating on shares of Baytex Energy in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Baytex Energy presently has a consensus rating of “Hold”.

Baytex Energy Price Performance

The stock has a market capitalization of $3.85 billion, a P/E ratio of -7.53 and a beta of 0.39. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.12 and a current ratio of 2.15. The firm has a fifty day moving average price of $4.40 and a two-hundred day moving average price of $3.64.

Baytex Energy (NYSE:BTE) (TSE:BTE) last issued its quarterly earnings data 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 during 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, analysts expect that Baytex Energy Corp will post 0.18 EPS for the current fiscal year.

Baytex Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 15th will be paid a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, June 15th. Baytex Energy’s payout ratio is currently -8.57%.

Hedge Funds Weigh In On Baytex Energy

Several institutional investors have recently made changes to their positions in the business. Intact Investment Management Inc. increased its holdings in 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 valued at $28,687,000 after buying an additional 6,044,270 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 acquiring an additional 374,972 shares during the last quarter. United Capital Management of KS Inc. bought a new stake in shares of Baytex Energy during the 3rd quarter valued at $211,000. 111 Capital bought a new stake in shares of Baytex Energy during the 3rd quarter valued at $151,000. Finally, American Century Companies Inc. increased its stake in shares of Baytex Energy by 20.0% in the 3rd quarter. American Century Companies Inc. now owns 14,233,589 shares of the oil and gas producer’s stock worth $33,342,000 after purchasing an additional 2,375,496 shares in the last quarter. Institutional investors own 46.15% of the company’s stock.

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.