Encompass Capital Advisors LLC Acquires Shares of 13,948,516 Baytex Energy Corp $BTE

Encompass Capital Advisors LLC purchased a new stake in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 13,948,516 shares of the oil and gas producer’s stock, valued at approximately $45,054,000. Baytex Energy makes up 1.8% of Encompass Capital Advisors LLC’s investment portfolio, making the stock its 14th biggest holding.

Other large investors have also modified their holdings of the company. Intact Investment Management Inc. raised its holdings in shares of Baytex Energy by 214.0% in the 4th 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 purchasing an additional 6,044,270 shares in the last quarter. HITE Hedge Asset Management LLC bought a new stake in shares of Baytex Energy in the 4th quarter valued at about $10,710,000. Vanguard Group Inc. raised its holdings in shares of Baytex Energy by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 29,449,680 shares of the oil and gas producer’s stock valued at $95,270,000 after purchasing an additional 374,972 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Baytex Energy in the 4th quarter valued at about $371,000. Finally, TD Asset Management Inc raised its holdings in shares of Baytex Energy by 176.3% in the 4th quarter. TD Asset Management Inc now owns 10,287,145 shares of the oil and gas producer’s stock valued at $33,321,000 after purchasing an additional 6,564,105 shares in the last quarter. Institutional investors own 46.15% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Baytex Energy Trading Down 3.2%

NYSE BTE opened at $4.09 on Thursday. The company has a quick ratio of 2.12, a current ratio of 2.15 and a debt-to-equity ratio of 0.06. The firm has a market cap of $2.94 billion, a PE ratio of -5.84 and a beta of 0.37. The company has a 50 day moving average price of $4.73 and a 200 day moving average price of $3.98. Baytex Energy Corp has a 52 week low of $1.76 and a 52 week high of $5.36.

Baytex Energy (NYSE:BTE) (TSE:BTE) last posted 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 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 forecast that Baytex Energy Corp will post 0.34 EPS for the current fiscal year.

Baytex Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 15th will be given a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Monday, June 15th. Baytex Energy’s payout ratio is currently -8.57%.

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.