Atb Cap Markets Weighs in on Baytex Energy Corp.’s Q1 2024 Earnings (TSE:BTE)

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) – Equities research analysts at Atb Cap Markets raised their Q1 2024 earnings per share (EPS) estimates for Baytex Energy in a research note issued to investors 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 prior 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 released its earnings results on Wednesday, February 28th. The company reported C$0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.13 by C$0.12. The firm had revenue of C$1.07 billion for the quarter. Baytex Energy had a negative return on equity of 6.81% and a negative net margin of 8.60%.

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus lifted their price target on Baytex Energy from C$6.00 to C$6.25 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Royal Bank of Canada dropped their price target on Baytex Energy from C$8.00 to C$7.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. National Bankshares dropped their price target on 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. Raymond James dropped their price target on Baytex Energy from C$6.75 to C$5.00 and set a “market perform” rating on the stock in a research note on Friday, January 19th. Finally, CIBC lifted their price target on Baytex Energy from C$6.00 to C$6.50 and gave the stock a “neutral” rating in a research note on Monday. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$6.45.

Baytex Energy Price Performance

TSE:BTE opened at C$5.01 on Tuesday. The business’s 50-day moving average price is C$4.73 and its 200 day moving average price is C$4.85. The firm has a market cap of C$4.12 billion, a P/E ratio of -15.18, a PEG ratio of 0.12 and a beta of 2.78. Baytex Energy has a 52-week low of C$3.83 and a 52-week high of C$6.37. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 63.80.

Insider Activity

In other news, Senior Officer Eric Thomas Greager purchased 20,000 shares of Baytex Energy stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average cost of C$4.25 per share, for a total transaction of C$85,000.00. In related news, Director Tiffany Thom Cepak sold 40,000 shares of the business’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 bought 20,000 shares of Baytex Energy stock in a transaction that occurred on Wednesday, March 6th. The stock was bought at an average price of C$4.25 per share, with a total value of C$85,000.00. 0.73% of the stock is owned by corporate insiders.

Baytex Energy Dividend Announcement

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

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.