Baytex Energy Corp. Expected to Post Q1 2024 Earnings of $0.16 Per Share (TSE:BTE)

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) – Research analysts at Atb Cap Markets lifted their Q1 2024 EPS estimates for Baytex Energy in a research note issued on Monday, April 22nd. Atb Cap Markets analyst A. Arif now anticipates that the company will post earnings of $0.16 per share for the quarter, up from their previous forecast of $0.15. 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 Q2 2024 earnings at $0.17 EPS and FY2024 earnings at $0.73 EPS.

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

Several other research analysts also recently issued reports on the stock. Royal Bank of Canada lowered their price target on shares of Baytex Energy from C$8.00 to C$7.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. National Bankshares reduced their price objective on shares of Baytex Energy from C$8.25 to C$7.25 and set an “outperform” rating on the stock in a research note on Wednesday, January 10th. TD Securities reduced their price objective on shares of Baytex Energy from C$6.50 to C$6.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. BMO Capital Markets set a C$6.00 price objective on shares of Baytex Energy and gave the stock a “market perform” rating in a research note on Tuesday, April 9th. Finally, CIBC boosted their price objective on shares of Baytex Energy from C$6.00 to C$6.50 and gave the stock a “neutral” rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$6.53.

Baytex Energy Stock Up 0.6 %

Shares of TSE:BTE opened at C$5.23 on Tuesday. The company has a fifty day moving average of C$4.77 and a 200-day moving average of C$4.85. The company has a market capitalization of C$4.30 billion, a PE ratio of -15.85, a price-to-earnings-growth ratio of 0.12 and a beta of 2.78. The company has a debt-to-equity ratio of 63.80, a quick ratio of 0.77 and a current ratio of 0.79. Baytex Energy has a 52-week low of C$3.83 and a 52-week high of C$6.37.

Baytex Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.023 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.09 dividend on an annualized basis and a yield of 1.76%. Baytex Energy’s dividend payout ratio (DPR) is currently -27.27%.

Insider Buying and Selling at Baytex Energy

In other news, Senior Officer Eric Thomas Greager purchased 20,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were acquired at an average price of C$4.25 per share, with a total value of C$85,000.00. In other news, Director Tiffany Thom Cepak sold 40,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of C$3.55, for a total transaction of C$142,000.00. Also, Senior Officer Eric Thomas Greager acquired 20,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were bought at an average price of C$4.25 per share, for a total transaction of C$85,000.00. Insiders own 0.73% of the company’s stock.

Baytex Energy Company Profile

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.