Baytex Energy (TSE:BTE) Posts Earnings Results

Baytex Energy (TSE:BTE) (NYSE:BTE) posted its quarterly earnings data on Thursday. The company reported C$0.23 earnings per share for the quarter, FiscalAI reports. Baytex Energy had a negative return on equity of 26.41% and a negative net margin of 131.38%. The business had revenue of C$511.39 million during the quarter.

Baytex Energy Price Performance

Shares of BTE stock traded down C$0.01 during mid-day trading on Friday, reaching C$5.92. The company’s stock had a trading volume of 8,087,699 shares, compared to its average volume of 5,870,847. The firm’s 50-day moving average is C$6.89 and its two-hundred day moving average is C$6.14. The company has a market cap of C$4.14 billion, a P/E ratio of -6.43, a PEG ratio of 0.12 and a beta of 0.69. Baytex Energy has a 1-year low of C$3.34 and a 1-year high of C$7.87. The company has a debt-to-equity ratio of 6.94, a quick ratio of 0.77 and a current ratio of 2.82.

Baytex Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, October 1st were issued a $0.0225 dividend. This represents a $0.09 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, September 15th. Baytex Energy’s payout ratio is -7.34%.

Analyst Ratings Changes

A number of analysts have issued reports on BTE shares. National Bank Financial raised their target price on Baytex Energy from C$8.50 to C$9.50 and gave the company an “outperform” rating in a report on Wednesday, September 30th. Raymond James Financial boosted their target price on shares of Baytex Energy from C$8.00 to C$8.50 and gave the stock a “strong-buy” rating in a research report on Friday, July 31st. Finally, Jefferies Financial Group assumed coverage on shares of Baytex Energy in a research report on Tuesday, October 27th. They issued a “buy” rating and a C$9.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Baytex Energy has an average rating of “Moderate Buy” and a consensus price target of C$7.32.

Baytex Energy Company Profile

Baytex Energy Corp. is a Calgary -based energy company committed to driving shareholder value through disciplined execution. It operates a high-quality, high-return portfolio in the Western Canadian Sedimentary Basin, featuring the Pembina Duvernay and heavy oil plays in Alberta and Saskatchewan. These core assets are backed by an extensive drilling inventory and consistently generate strong cash flow.