Webs Creek Capital Management LP Makes New Investment in Baytex Energy Corp $BTE

Webs Creek Capital Management LP acquired a new position in shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,771,506 shares of the oil and gas producer’s stock, valued at approximately $51,086,024. Baytex Energy accounts for about 0.0% of Webs Creek Capital Management LP’s holdings, making the stock its 3rd biggest holding. Webs Creek Capital Management LP owned 1.83% of Baytex Energy as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Baytex Energy in the second quarter valued at approximately $197,114,000. Arrowstreet Capital Limited Partnership raised its position in Baytex Energy by 816.3% during 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 acquiring an additional 19,601,808 shares in the last quarter. Ninepoint Partners LP acquired a new position in shares of Baytex Energy in the second quarter valued at $68,000,000. Encompass Capital Advisors LLC acquired a new stake in Baytex Energy during the 4th quarter worth $45,054,000. Finally, TD Asset Management Inc grew its stake in shares of Baytex Energy by 176.3% in the fourth 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 buying an additional 6,564,105 shares in the last quarter. 46.15% of the stock is owned by hedge funds and other institutional investors.

Baytex Energy Stock Performance

BTE traded down $0.05 during mid-day trading on Friday, reaching $4.77. 11,212,902 shares of the company traded hands, compared to its average volume of 19,796,443. Baytex Energy Corp has a 52-week low of $2.15 and a 52-week high of $5.36. The company’s fifty day moving average price is $4.25 and its 200-day moving average price is $4.33. The company has a quick ratio of 2.79, a current ratio of 2.82 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $3.33 billion, a P/E ratio of -7.12 and a beta of 0.39.

Baytex Energy (NYSE:BTE) (TSE:BTE) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas producer reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.09. The firm had revenue of $449.32 million for the quarter, compared to the consensus estimate of $218.10 million. Baytex Energy had a negative net margin of 26.43% and a negative return on equity of 7.77%. On average, sell-side analysts expect that Baytex Energy Corp will post 0.41 EPS for the current year.

Baytex Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

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