-$0.17 Earnings Per Share Expected for Baytex Energy Corp (BTE) This Quarter

Wall Street analysts expect Baytex Energy Corp (NYSE:BTE) (TSE:BTE) to announce earnings per share (EPS) of ($0.17) for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Baytex Energy Corp’s earnings. Baytex Energy Corp posted earnings of ($0.15) per share during the same quarter last year, which would suggest a negative year over year growth rate of 13.3%. The firm is expected to report its next earnings results on Wednesday, November 1st.

According to Zacks, analysts expect that Baytex Energy Corp will report full year earnings of ($0.28) per share for the current fiscal year, with EPS estimates ranging from ($0.30) to ($0.25). For the next fiscal year, analysts expect that the business will report earnings of ($0.43) per share, with EPS estimates ranging from ($0.46) to ($0.40). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Baytex Energy Corp.

Baytex Energy Corp (NYSE:BTE) (TSE:BTE) last issued its earnings results on Tuesday, August 1st. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.17. The company had revenue of $207.22 million for the quarter. Baytex Energy Corp had a negative return on equity of 5.17% and a negative net margin of 38.91%.

A number of equities analysts recently weighed in on the company. AltaCorp Capital cut Baytex Energy Corp from an “outperform” rating to a “sector perform” rating in a report on Friday. ValuEngine cut Baytex Energy Corp from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. BidaskClub cut Baytex Energy Corp from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Zacks Investment Research raised Baytex Energy Corp from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Finally, Raymond James Financial, Inc. cut Baytex Energy Corp from a “market perform” rating to an “underperform” rating in a report on Wednesday, July 5th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $7.44.

Shares of Baytex Energy Corp (NYSE BTE) traded up 4.30% during mid-day trading on Friday, reaching $2.91. The company had a trading volume of 879,819 shares. Baytex Energy Corp has a 52 week low of $2.13 and a 52 week high of $5.61. The company’s market capitalization is $685.16 million. The stock has a 50 day moving average of $2.73 and a 200-day moving average of $2.83.

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Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Baytex Energy Corp by 3.4% during the second quarter. Vanguard Group Inc. now owns 4,593,778 shares of the oil and gas producer’s stock valued at $11,163,000 after acquiring an additional 150,013 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Baytex Energy Corp by 1.5% during the second quarter. Schroder Investment Management Group now owns 3,027,800 shares of the oil and gas producer’s stock valued at $9,508,000 after acquiring an additional 45,947 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Baytex Energy Corp by 1.0% during the second quarter. Bank of Montreal Can now owns 717,403 shares of the oil and gas producer’s stock valued at $1,744,000 after acquiring an additional 7,259 shares during the last quarter. Sprott Inc. raised its holdings in shares of Baytex Energy Corp by 17.4% during the second quarter. Sprott Inc. now owns 540,000 shares of the oil and gas producer’s stock valued at $1,312,000 after acquiring an additional 80,000 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in shares of Baytex Energy Corp by 6.5% during the second quarter. UBS Asset Management Americas Inc. now owns 451,992 shares of the oil and gas producer’s stock valued at $1,096,000 after acquiring an additional 27,622 shares during the last quarter. 15.79% of the stock is owned by institutional investors and hedge funds.

About Baytex Energy Corp

Baytex Energy Corp. (Baytex) is engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (Alberta and Saskatchewan) and in the United States (Texas). The Company’s crude oil and natural gas operations are organized into four business units: Lloydminster, Peace River, Conventional and United States.

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