Baytex Energy (TSE:BTE) Announces Earnings Results

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

Baytex Energy Stock Up 6.5%

BTE stock opened at C$6.39 on Friday. The company has a current ratio of 2.15, a quick ratio of 0.77 and a debt-to-equity ratio of 6.84. The firm has a 50-day moving average of C$6.09 and a two-hundred day moving average of C$5.78. Baytex Energy has a 12 month low of C$2.68 and a 12 month high of C$7.37. The company has a market cap of C$4.55 billion, a price-to-earnings ratio of -6.66, a PEG ratio of 0.12 and a beta of 0.41.

Baytex Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, July 2nd were given a dividend of $0.0225 per share. The ex-dividend date was Monday, June 15th. This represents a $0.09 dividend on an annualized basis and a yield of 1.4%. Baytex Energy’s payout ratio is presently -7.03%.

Wall Street Analyst Weigh In

BTE has been the topic of a number of recent analyst reports. ATB Cormark Capital Markets increased their price target on shares of Baytex Energy from C$7.00 to C$8.50 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Raymond James Financial raised their target price on Baytex Energy from C$8.00 to C$8.50 and gave the company a “strong-buy” rating in a research report on Friday. Scotia upped their price target on Baytex Energy from C$6.50 to C$7.50 and gave the stock a “sector outperform” rating in a report on Friday, May 8th. Canaccord Genuity Group raised Baytex Energy from a “hold” rating to a “buy” rating and raised their price objective for the company from C$5.25 to C$7.00 in a report on Tuesday, April 14th. Finally, Royal Bank Of Canada increased their target price on 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. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Baytex Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of C$7.05.

Insider Activity at Baytex Energy

In other Baytex Energy news, Director Stephen David Lile Reynish sold 77,600 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of C$6.85, for a total transaction of C$531,560.00. Following the transaction, the director owned 15,400 shares of the company’s stock, valued at approximately C$105,490. The trade was a 83.44% decrease in their ownership of the stock. Corporate insiders own 0.83% of the company’s stock.

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.