Webs Creek Capital Management LP Takes $51.09 Billion Position in Baytex Energy Corp $BTE

Webs Creek Capital Management LP purchased a new position in Baytex Energy Corp (NYSE:BTE) (TSE:BTE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,771,506 shares of the oil and gas producer’s stock, valued at approximately $51,086,024,000. Baytex Energy accounts for approximately 9.7% of Webs Creek Capital Management LP’s investment portfolio, making the stock its 3rd largest holding.

Several other institutional investors also recently bought and sold shares of the business. Intact Investment Management Inc. lifted its stake in shares of Baytex Energy by 214.0% during the 4th quarter. Intact Investment Management Inc. now owns 8,868,370 shares of the oil and gas producer’s stock worth $28,687,000 after purchasing an additional 6,044,270 shares during the last quarter. Encompass Capital Advisors LLC boosted its position in Baytex Energy by 43.9% during the first quarter. Encompass Capital Advisors LLC now owns 20,071,614 shares of the oil and gas producer’s stock valued at $89,695,000 after purchasing an additional 6,123,098 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Baytex Energy by 816.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 22,003,118 shares of the oil and gas producer’s stock valued at $98,381,000 after purchasing an additional 19,601,808 shares during the last quarter. Lazard Asset Management LLC grew its stake in Baytex Energy by 2,091.4% in the first quarter. Lazard Asset Management LLC now owns 571,906 shares of the oil and gas producer’s stock valued at $2,556,000 after purchasing an additional 545,808 shares during the last quarter. Finally, Ninepoint Partners LP bought a new position in Baytex Energy in the second quarter worth about $68,000,000. 46.15% of the stock is owned by hedge funds and other institutional investors.

Baytex Energy Price Performance

Shares of BTE opened at $4.72 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.82 and a quick ratio of 2.79. The company’s fifty day moving average price is $4.22 and its 200-day moving average price is $4.31. Baytex Energy Corp has a 1-year low of $2.10 and a 1-year high of $5.36. The firm has a market capitalization of $3.30 billion, a PE ratio of -7.05 and a beta of 0.39.

Baytex Energy (NYSE:BTE) (TSE:BTE) last issued its earnings results on Thursday, July 30th. The oil and gas producer reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.09. Baytex Energy had a negative return on equity of 7.77% and a negative net margin of 26.43%.The company had revenue of $449.32 million during the quarter, compared to analyst estimates of $218.10 million. On average, equities research analysts predict that Baytex Energy Corp will post 0.41 EPS for the current year.

Baytex Energy Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently commented on BTE. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Baytex Energy in a research note on Friday, July 10th. Weiss Ratings raised shares of Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Zacks Research raised Baytex Energy from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 20th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Baytex Energy in a report on Monday, May 11th. Finally, TD Securities reissued a “hold” rating on shares of Baytex Energy in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Baytex Energy presently has an average 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.