Baytex Energy (TSE:BTE) Releases Quarterly 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. The business had revenue of C$401.37 million for the quarter. Baytex Energy had a negative net margin of 40.77% and a negative return on equity of 16.25%.

Baytex Energy Stock Down 2.5%

TSE:BTE traded down C$0.17 during trading hours on Thursday, reaching C$6.64. The company had a trading volume of 5,531,929 shares, compared to its average volume of 7,553,478. The company has a quick ratio of 0.77, a current ratio of 3.61 and a debt-to-equity ratio of 4.94. The firm has a market cap of C$4.90 billion, a price-to-earnings ratio of -8.51, a P/E/G ratio of 0.12 and a beta of 0.58. The business’s 50-day simple moving average is C$5.84 and its two-hundred day simple moving average is C$4.84. Baytex Energy has a twelve month low of C$2.08 and a twelve month high of C$7.14.

Baytex Energy Dividend Announcement

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

Insider Activity at Baytex Energy

In related news, insider James Robert Maclean purchased 10,000 shares of Baytex Energy stock in a transaction on Friday, March 20th. The stock was acquired at an average cost of C$5.73 per share, for a total transaction of C$57,300.00. Following the completion of the acquisition, the insider owned 185,322 shares of the company’s stock, valued at C$1,061,895.06. This trade represents a 5.70% increase in their position. Also, insider Chad Lundberg purchased 11,000 shares of Baytex Energy stock in a transaction on Monday, March 30th. The stock was bought at an average price of C$6.15 per share, with a total value of C$67,650.00. Following the completion of the acquisition, the insider directly owned 613,401 shares of the company’s stock, valued at approximately C$3,772,416.15. This trade represents a 1.83% increase in their position. Over the last three months, insiders have acquired 49,800 shares of company stock valued at $293,188. Company insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

BTE has been the subject of several analyst reports. Royal Bank Of Canada raised their price target on shares of Baytex Energy from C$5.00 to C$6.50 and gave the company a “sector perform” rating in a research note on Wednesday, April 8th. National Bank Financial increased their price objective on shares of Baytex Energy from C$5.00 to C$5.75 and gave the stock an “outperform” rating in a research report on Thursday, March 5th. Canaccord Genuity Group upgraded shares of Baytex Energy from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$5.25 to C$7.00 in a research report on Tuesday, April 14th. Scotiabank increased their price objective on shares of Baytex Energy from C$5.25 to C$5.50 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Finally, Raymond James Financial upgraded shares of Baytex Energy from a “hold” rating to a “moderate buy” rating and increased their price objective for the stock from C$5.50 to C$7.00 in a research report on Monday, March 30th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$6.18.

About Baytex Energy

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.