Baytex Energy (TSE:BTE) Issues Earnings Results

Baytex Energy (TSE:BTE) (NYSE:BTE) released its quarterly earnings results on Thursday. The company reported C($0.09) earnings per share (EPS) for the quarter, FiscalAI reports. Baytex Energy had a negative net margin of 40.77% and a negative return on equity of 16.25%. The company had revenue of C$401.37 million during the quarter.

Baytex Energy Stock Down 0.3%

Shares of BTE opened at C$6.62 on Friday. The firm has a market cap of C$4.89 billion, a P/E ratio of -8.49, a price-to-earnings-growth ratio of 0.12 and a beta of 0.58. Baytex Energy has a 12-month low of C$2.18 and a 12-month high of C$7.14. The company’s 50-day moving average price is C$5.86 and its 200 day moving average price is C$4.87. The company has a current ratio of 3.61, a quick ratio of 0.77 and a debt-to-equity ratio of 4.94.

Baytex Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, April 1st were issued a $0.0225 dividend. This represents a $0.09 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, March 13th. Baytex Energy’s payout ratio is -11.54%.

Analysts Set New Price Targets

BTE has been the topic of a number of research analyst reports. Canaccord Genuity Group raised shares of Baytex Energy from a “hold” rating to a “buy” rating and lifted their price target for the company from C$5.25 to C$7.00 in a research note on Tuesday, April 14th. Raymond James Financial lifted their target price on shares of Baytex Energy from C$7.00 to C$8.00 and gave the stock an “outperform” rating in a research note on Friday. National Bank Financial lifted their target price on shares of Baytex Energy from C$7.50 to C$8.50 and gave the stock a “sector perform” rating in a research note on Friday. Scotiabank lifted their target price on shares of Baytex Energy from C$5.25 to C$5.50 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Finally, Scotia lifted their target price on shares of Baytex Energy from C$6.50 to C$7.50 and gave the stock a “sector outperform” rating in a research note on Friday. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$7.00.

Insider Activity at Baytex Energy

In related news, insider Chadwick Kalmakoff acquired 15,000 shares of Baytex Energy stock in a transaction that occurred on Friday, March 20th. The shares were purchased at an average cost of C$5.73 per share, for a total transaction of C$85,950.00. Following the acquisition, the insider owned 382,331 shares in the company, valued at approximately C$2,190,756.63. This represents a 4.08% increase in their ownership of the stock. Also, insider Nicole Marie Frechette acquired 8,500 shares of Baytex Energy stock in a transaction that occurred on Thursday, April 2nd. The stock was bought at an average price of C$5.84 per share, for a total transaction of C$49,640.00. Following the completion of the acquisition, the insider owned 73,026 shares in the company, valued at C$426,471.84. This trade represents a 13.17% increase in their position. Insiders have bought a total of 49,800 shares of company stock valued at $293,188 in the last quarter. Corporate insiders own 0.83% of the company’s stock.

More Baytex Energy News

Here are the key news stories impacting Baytex Energy this week:

• Positive Sentiment: National Bank Financial raised its price target on Baytex Energy from C$7.50 to C$8.50 and kept a “sector perform” rating, implying meaningful upside from the current share price. BayStreet.CA analyst ratings
• Positive Sentiment: ATB Cormark also increased its target to C$8.50 from C$7.00, reinforcing bullish sentiment from analysts. Tickerreport.com
• Positive Sentiment: Raymond James lifted its target to C$8.00 from C$7.00 and maintained an “outperform” rating, signaling confidence in Baytex’s valuation and outlook. BayStreet.CA analyst ratings
• Positive Sentiment: Scotia raised its target to C$7.50 from C$6.50 and reiterated a “sector outperform” rating, adding to the cluster of positive analyst revisions. BayStreet.CA analyst ratings
• Neutral Sentiment: Baytex reported quarterly EPS of C($0.09) on revenue of C$401.37 million, with negative net margin and return on equity, highlighting that fundamentals remain challenged. Quarterly earnings details
• Negative Sentiment: Recent coverage also pointed to earnings pressure and forecasts for sharp revenue and EPS declines, which could limit further upside if operating performance does not improve. MSN earnings pressure article

Baytex Energy Company Profile

Baytex Energy Corp is an oil and gas company. Geographically, the group operates in Canada and the United States. The company derives a majority of revenue from Canada. Its Canada segment includes the exploration, development, and production of crude oil and natural gas in Western Canada.