Baytex Energy (TSE:BTE) Announces Quarterly Earnings Results

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

Baytex Energy Stock Performance

Shares of BTE stock traded up C$0.13 during trading hours on Thursday, reaching C$6.00. The company had a trading volume of 3,275,275 shares, compared to its average volume of 6,397,948. The company has a debt-to-equity ratio of 6.84, a quick ratio of 0.77 and a current ratio of 2.15. The business has a fifty day moving average price of C$6.13 and a 200-day moving average price of C$5.77. Baytex Energy has a one year low of C$2.68 and a one year high of C$7.37. The firm has a market cap of C$4.28 billion, a PE ratio of -6.25, a price-to-earnings-growth ratio of 0.12 and a beta of 0.41.

Baytex Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, July 2nd were paid a $0.0225 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.5%. Baytex Energy’s payout ratio is currently -7.03%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Raymond James Financial upped 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, May 8th. Royal Bank Of Canada raised their price target on shares of Baytex Energy from C$6.50 to C$7.00 and gave the company a “sector perform” rating in a research report on Monday, May 11th. ATB Cormark Capital Markets upped their price objective on Baytex Energy from C$7.00 to C$8.50 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Canaccord Genuity Group raised Baytex Energy from a “hold” rating to a “buy” rating and lifted their target price for the stock from C$5.25 to C$7.00 in a report on Tuesday, April 14th. Finally, TD lifted their target price on Baytex Energy from C$6.00 to C$6.50 and gave the stock a “hold” rating in a report on Monday, May 11th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$7.00.

Insiders Place Their Bets

In related news, Director Stephen David Lile Reynish sold 77,600 shares of the firm’s stock in a transaction that occurred 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 sale, the director owned 15,400 shares in the company, valued at approximately C$105,490. This trade represents a 83.44% decrease in their ownership of the stock. 0.83% of the stock is currently owned by company insiders.

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.