Baytex Energy (TSE:BTE) Issues Earnings Results

Baytex Energy (TSE:BTE) (NYSE:BTE) posted its quarterly earnings results on Thursday. The company reported C$0.24 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$564.88 million during the quarter. Baytex Energy had a negative return on equity of 23.15% and a negative net margin of 83.88%.

Baytex Energy Price Performance

Shares of BTE opened at C$6.00 on Friday. The firm has a market cap of C$4.28 billion, a price-to-earnings ratio of -6.25, a PEG ratio of 0.12 and a beta of 0.41. The stock has a 50 day moving average of C$6.11 and a 200-day moving average of C$5.78. The company has a current ratio of 2.15, a quick ratio of 0.77 and a debt-to-equity ratio of 6.84. Baytex Energy has a 52 week low of C$2.68 and a 52 week high of C$7.37.

Baytex Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, July 2nd were given a $0.0225 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.09 annualized dividend and a dividend yield of 1.5%. Baytex Energy’s dividend payout ratio (DPR) is presently -7.03%.

Insider Transactions at Baytex Energy

In other Baytex Energy news, Director Stephen David Lile Reynish sold 77,600 shares of Baytex Energy stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of C$6.85, for a total value of C$531,560.00. Following the completion of the transaction, the director owned 15,400 shares of the company’s stock, valued at C$105,490. The trade was a 83.44% decrease in their ownership of the stock. 0.83% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on BTE. Royal Bank Of Canada raised their price objective on Baytex Energy from C$6.50 to C$7.00 and gave the stock a “sector perform” rating in a report on Monday, May 11th. TD raised their target price on shares of Baytex Energy from C$6.00 to C$6.50 and gave the company a “hold” rating in a research note on Monday, May 11th. ATB Cormark Capital Markets lifted their target price on shares of Baytex Energy from C$7.00 to C$8.50 and gave the company a “sector perform” rating in a report on Friday, May 8th. Scotia raised their price objective on Baytex Energy from C$6.50 to C$7.50 and gave the company a “sector outperform” rating in a research note on Friday, May 8th. Finally, National Bank Financial upped their target price on Baytex Energy from C$7.50 to C$8.50 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$7.00.

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.