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

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) – Atb Cap Markets boosted their Q1 2024 earnings per share (EPS) estimates for Baytex Energy in a report released on Monday, April 22nd. Atb Cap Markets analyst A. Arif now anticipates that the company will earn $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.

BTE has been the subject of several other reports. Royal Bank of Canada lowered their price target on 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. TD Securities decreased their price objective on Baytex Energy from C$6.50 to C$6.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Raymond James decreased their price objective on Baytex Energy from C$6.75 to C$5.00 and set a “market perform” rating for the company in a report on Friday, January 19th. Stifel Nicolaus increased their price objective on Baytex Energy from C$6.00 to C$6.25 and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, ATB Capital decreased their price objective on Baytex Energy from C$6.50 to C$6.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$6.45.

Baytex Energy Stock Up 0.2 %

Shares of Baytex Energy stock opened at C$5.01 on Tuesday. Baytex Energy has a 1 year low of C$3.83 and a 1 year high of C$6.37. The business has a 50-day moving average of C$4.73 and a two-hundred day moving average of C$4.85. The company has a market capitalization of C$4.12 billion, a P/E ratio of -15.18, 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 current ratio of 0.79 and a quick ratio of 0.77.

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. Baytex Energy had a negative return on equity of 6.81% and a negative net margin of 8.60%. The company had revenue of C$1.07 billion during the quarter.

Baytex Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a dividend of $0.023 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.09 annualized dividend and a yield of 1.84%. Baytex Energy’s dividend payout ratio (DPR) is presently -27.27%.

Insider Activity at Baytex Energy

In related news, Senior Officer Eric Thomas Greager purchased 20,000 shares of Baytex Energy stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average cost 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 firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of C$3.55, for a total value of C$142,000.00. Also, Senior Officer Eric Thomas Greager acquired 20,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average cost of C$4.25 per share, with a total value 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.