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Is Baytex Energy Corp (USA) (BTE) Going to Burn These Hedge Funds?

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What’s a smart Baytex Energy Corp (USA) (NYSE:BTE) investor to do?

If you were to ask many of your fellow readers, hedge funds are seen as delayed, outdated financial vehicles of a period lost to current times. Although there are more than 8,000 hedge funds with their doors open in present day, this site focuses on the bigwigs of this group, around 525 funds. Analysts calculate that this group oversees the lion’s share of the smart money’s total capital, and by keeping an eye on their best stock picks, we’ve uncovered a few investment strategies that have historically beaten Mr. Market. Our small-cap hedge fund strategy outperformed the S&P 500 index by 18 percentage points annually for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have outperformed the S&P 500 index by 33 percentage points in 11 months (find the details here).

Equally as key, optimistic insider trading activity is another way to look at the financial markets. There are plenty of incentives for a bullish insider to cut shares of his or her company, but only one, very obvious reason why they would buy. Several academic studies have demonstrated the market-beating potential of this strategy if investors understand where to look (learn more here).

Furthermore, we’re going to study the latest info about Baytex Energy Corp (USA) (NYSE:BTE).

How are hedge funds trading Baytex Energy Corp (USA) (NYSE:BTE)?

At Q2’s end, a total of 9 of the hedge funds we track held long positions in this stock, a change of -18% from one quarter earlier. With the smart money’s sentiment swirling, there exists a few key hedge fund managers who were increasing their stakes substantially.

3 High-Yielding Retirement Savings Stocks That Pay Monthly DividendsOut of the hedge funds we follow, Russell Lucas’s Lucas Capital Management had the largest position in Baytex Energy Corp (USA) (NYSE:BTE), worth close to $7.5 million, accounting for 2.1% of its total 13F portfolio. The second largest stake is held by PEAK6 Capital Management, managed by Matthew Hulsizer, which held a $6.6 million call position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Remaining hedgies with similar optimism include Daniel Bubis’s Tetrem Capital Management, Jim Simons’s Renaissance Technologies and Israel Englander’s Millennium Management.

As Baytex Energy Corp (USA) (NYSE:BTE) has witnessed dropping sentiment from the entirety of the hedge funds we track, it’s safe to say that there is a sect of fund managers that slashed their full holdings in Q1. It’s worth mentioning that Eric Sprott’s Sprott Asset Management dropped the biggest stake of all the hedgies we track, totaling an estimated $3.8 million in stock. Matthew Tewksbury’s fund, Stevens Capital Management, also cut its stock, about $0.5 million worth. These moves are intriguing to say the least, as total hedge fund interest was cut by 2 funds in Q1.

What do corporate executives and insiders think about Baytex Energy Corp (USA) (NYSE:BTE)?

Insider buying is most useful when the company we’re looking at has experienced transactions within the past half-year. Over the latest six-month time frame, Baytex Energy Corp (USA) (NYSE:BTE) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

We’ll also take a look at the relationship between both of these indicators in other stocks similar to Baytex Energy Corp (USA) (NYSE:BTE). These stocks are SM Energy Co. (NYSE:SM), Cimarex Energy Co (NYSE:XEC), Plains Exploration & Production Company (NYSE:PXP), Kosmos Energy Ltd (NYSE:KOS), and National Fuel Gas Co. (NYSE:NFG). This group of stocks are in the independent oil & gas industry and their market caps are similar to BTE’s market cap.

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