Baytex Energy (NYSE:BTE) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Baytex Energy (NYSE:BTE) (TSE:BTE) released its quarterly earnings data on Thursday. The oil and gas producer reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03, Zacks reports. Baytex Energy had a negative return on equity of 7.77% and a negative net margin of 26.43%. The business had revenue of $426.40 million for the quarter, compared to analyst estimates of $309.71 million.

Baytex Energy Stock Down 0.6%

Shares of BTE traded down $0.03 during trading hours on Friday, hitting $4.20. The stock had a trading volume of 23,932,497 shares, compared to its average volume of 20,493,014. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.82 and a quick ratio of 2.79. The firm has a 50 day simple moving average of $4.91 and a 200-day simple moving average of $4.42. The firm has a market capitalization of $2.87 billion, a P/E ratio of -7.77 and a beta of 0.37. Baytex Energy has a 1-year low of $2.36 and a 1-year high of $5.61.

Baytex Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 15th will be paid a dividend of C$0.02 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $0.09 annualized dividend and a yield of 2.1%. Baytex Energy’s dividend payout ratio is currently -8.96%.

Wall Street Analyst Weigh In

Several equities analysts have commented on BTE shares. Weiss Ratings upgraded Baytex Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. Raymond James Financial restated a “strong-buy” rating on shares of Baytex Energy in a report on Wednesday, September 16th. Jefferies Financial Group initiated coverage on Baytex Energy in a research note on Tuesday, October 27th. They issued a “buy” rating for the company. Scotiabank reaffirmed an “outperform” rating on shares of Baytex Energy in a research note on Monday, October 19th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Baytex Energy in a report on Friday, October 9th. Four investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Baytex Energy has an average rating of “Buy”.

Baytex Energy Company Profile

Baytex Energy Corp. is a Canadian oil and natural gas exploration and production company headquartered in Calgary, Alberta. The company develops and produces crude oil, condensate, natural gas liquids and natural gas.

Baytex’s operations are focused on the Western Canadian Sedimentary Basin in Alberta and Saskatchewan and the Eagle Ford shale in South Texas. Its portfolio includes light oil, heavy oil and natural gas assets, with production sold into North American energy markets.

Founded in 1993, Baytex became a publicly traded corporation in 2010 after operating as an income trust.