Lazard Asset Management LLC Has $2.56 Million Stock Holdings in Baytex Energy Corp $BTE

Lazard Asset Management LLC raised its position in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) by 2,091.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 571,906 shares of the oil and gas producer’s stock after acquiring an additional 545,808 shares during the period. Lazard Asset Management LLC’s holdings in Baytex Energy were worth $2,556,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in Baytex Energy by 21.4% in the 1st quarter. Bank of New York Mellon Corp now owns 15,038 shares of the oil and gas producer’s stock valued at $67,000 after purchasing an additional 2,652 shares during the period. Cetera Investment Advisers raised its holdings in Baytex Energy by 45.9% during the fourth quarter. Cetera Investment Advisers now owns 16,060 shares of the oil and gas producer’s stock worth $52,000 after buying an additional 5,054 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Baytex Energy by 98.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,490 shares of the oil and gas producer’s stock valued at $44,000 after buying an additional 6,691 shares in the last quarter. Lakewood Asset Management LLC lifted its stake in shares of Baytex Energy by 13.3% in the fourth quarter. Lakewood Asset Management LLC now owns 67,571 shares of the oil and gas producer’s stock valued at $218,000 after buying an additional 7,921 shares in the last quarter. Finally, United Capital Management of KS Inc. lifted its stake in shares of Baytex Energy by 11.1% in the fourth quarter. United Capital Management of KS Inc. now owns 100,000 shares of the oil and gas producer’s stock valued at $323,000 after buying an additional 10,000 shares in the last quarter. Institutional investors own 46.15% of the company’s stock.

Baytex Energy Stock Down 0.1%

Baytex Energy stock opened at $4.55 on Monday. The firm has a 50 day moving average price of $4.34 and a 200-day moving average price of $4.19. The company has a quick ratio of 2.12, a current ratio of 2.15 and a debt-to-equity ratio of 0.06. Baytex Energy Corp has a twelve month low of $1.93 and a twelve month high of $5.36. The company has a market capitalization of $3.23 billion, a P/E ratio of -6.80 and a beta of 0.39.

Baytex Energy (NYSE:BTE) (TSE:BTE) last issued its quarterly earnings results on Thursday, July 30th. The oil and gas producer reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.09. The firm had revenue of $449.32 million for the quarter, compared to analysts’ expectations of $218.10 million. Baytex Energy had a negative return on equity of 7.27% and a negative net margin of 26.43%. As a group, equities analysts predict that Baytex Energy Corp will post 0.26 EPS for the current year.

Baytex Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be paid a dividend of $0.0225 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.09 annualized dividend and a yield of 2.0%. Baytex Energy’s payout ratio is currently -10.00%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Canaccord Genuity Group raised Baytex Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Baytex Energy in a report on Friday, July 10th. Zacks Research cut Baytex Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Baytex Energy in a research report on Monday, May 11th. Finally, Weiss Ratings upgraded Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold”.

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.