Atb Cap Markets Comments on Baytex Energy Corp.’s Q3 2024 Earnings (TSE:BTE)

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) – Stock analysts at Atb Cap Markets decreased their Q3 2024 earnings per share estimates for shares of Baytex Energy in a research note issued on Monday, April 22nd. Atb Cap Markets analyst A. Arif now forecasts that the company will earn $0.19 per share for the quarter, down from their prior estimate of $0.20. The consensus estimate for Baytex Energy’s current full-year earnings is $0.74 per share. Atb Cap Markets also issued estimates for Baytex Energy’s FY2025 earnings at $0.60 EPS, FY2027 earnings at $0.14 EPS and FY2028 earnings at $0.14 EPS.

Several other research firms have also recently weighed in on BTE. CIBC increased their price objective on Baytex Energy from C$6.00 to C$6.50 and gave the stock a “neutral” rating in a research report on Monday. TD Securities lowered their price objective on Baytex Energy from C$6.50 to C$6.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. National Bankshares lowered their price objective on Baytex Energy from C$8.25 to C$7.25 and set an “outperform” rating on the stock in a research report on Wednesday, January 10th. Stifel Nicolaus increased their price objective on Baytex Energy from C$6.25 to C$7.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, ATB Capital lowered their price objective on Baytex Energy from C$6.50 to C$6.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$6.53.

Baytex Energy Stock Up 3.8 %

BTE opened at C$5.20 on Wednesday. The company has a current ratio of 0.79, a quick ratio of 0.77 and a debt-to-equity ratio of 63.80. The stock has a market cap of C$4.27 billion, a PE ratio of -15.76, a price-to-earnings-growth ratio of 0.12 and a beta of 2.78. The stock’s fifty day simple moving average is C$4.75 and its 200 day simple moving average is C$4.85. Baytex Energy has a 1-year low of C$3.83 and a 1-year high of C$6.37.

Baytex Energy (TSE:BTE) (NYSE:BTE) last posted its quarterly earnings results on Wednesday, February 28th. The company reported C$0.25 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.13 by C$0.12. Baytex Energy had a negative return on equity of 6.81% and a negative net margin of 8.60%. The business had revenue of C$1.07 billion for the quarter.

Insider Activity at Baytex Energy

In related news, Director Tiffany Thom Cepak sold 40,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of C$3.55, for a total value of C$142,000.00. In other news, Director Tiffany Thom Cepak sold 40,000 shares of Baytex Energy stock in a transaction dated Monday, March 25th. The stock was sold at an average price of C$3.55, for a total transaction of C$142,000.00. Also, Senior Officer Eric Thomas Greager purchased 20,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average cost of C$4.25 per share, for a total transaction of C$85,000.00. 0.73% of the stock is currently owned by insiders.

Baytex Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a $0.023 dividend. This represents a $0.09 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Thursday, March 14th. Baytex Energy’s dividend payout ratio (DPR) is presently -27.27%.

About Baytex Energy

Baytex Energy Corp., an energy company, engages in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas.