Portland Investment Counsel buys $10.3 Million stake in Baytex Energy Corp (USA) (BTE)

Baytex Energy Corp (USA) (BTE) : Portland Investment Counsel scooped up 1,151,023 additional shares in Baytex Energy Corp (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 2,239,154 shares of Baytex Energy Corp (USA) which is valued at $10.3 Million.Baytex Energy Corp (USA) makes up approximately 19.70% of Portland Investment Counsel’s portfolio.

Other Hedge Funds, Including , Timber Hill reduced its stake in BTE by selling 700 shares or 5.72% in the most recent quarter. The Hedge Fund company now holds 11,544 shares of BTE which is valued at $54,257.Td Asset Management Inc reduced its stake in BTE by selling 122,711 shares or 7.6% in the most recent quarter. The Hedge Fund company now holds 1,491,597 shares of BTE which is valued at $7 Million. Baytex Energy Corp (USA) makes up approx 0.01% of Td Asset Management Inc’s portfolio.Cambridge Investment Research Advisors boosted its stake in BTE in the latest quarter, The investment management firm added 1,072 additional shares and now holds a total of 19,922 shares of Baytex Energy Corp (USA) which is valued at $93,633.

Baytex Energy Corp (USA) opened for trading at $4.7 and hit $4.75 on the upside on Friday, eventually ending the session at $4.68, with a gain of 0.65% or 0.03 points. The heightened volatility saw the trading volume jump to 32,92,534 shares. Company has a market cap of $986 M.

On the company’s financial health, Baytex Energy Corp (USA) reported $-1.96 EPS for the quarter, missing the analyst consensus estimate by $ -1.68 based on the information available during the earnings call on Mar 3, 2016. Analyst had a consensus of $-0.28. The company had revenue of $230.20 million for the quarter, compared to analysts expectations of $237.56 million. The company’s revenue was down -51.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.47 EPS.

Baytex Energy Corp. (Baytex) through its subsidiaries is engaged in the business of acquiring developing exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (primarily in the provinces of Alberta and Saskatchewan) and in the United States (primarily in the state of Texas). The Company’s crude oil and natural gas operations are organized into three business units: Central; Lloydminster; and United States. Each business unit has a portfolio of mineral leases operated and non-operated properties and development prospects. The Company’s wholly owned subsidiaries include include Baytex Energy Ltd. which is engaged in the business of oil and natural gas exploration exploitation development acquisition and production in Canada and Baytex Energy USA Inc. which is engaged in the business of oil and natural gas exploration exploitation development acquisition and production in the United States.

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