Baytex Energy (TSE:BTE) Issues Quarterly Earnings Results

Baytex Energy (TSE:BTE) (NYSE:BTE) posted its quarterly earnings data on Wednesday. The company reported C($1.11) EPS for the quarter, FiscalAI reports. Baytex Energy had a net margin of 5.60% and a return on equity of 5.16%.

Baytex Energy Price Performance

BTE traded up C$0.15 during trading on Wednesday, reaching C$5.43. 6,502,623 shares of the stock were exchanged, compared to its average volume of 7,284,389. The company has a debt-to-equity ratio of 48.05, a current ratio of 0.58 and a quick ratio of 0.77. The company has a market capitalization of C$4.17 billion, a price-to-earnings ratio of 19.39, a P/E/G ratio of 0.12 and a beta of 1.02. Baytex Energy has a 1 year low of C$1.91 and a 1 year high of C$5.58. The business’s 50 day moving average price is C$4.74 and its two-hundred day moving average price is C$4.02.

Baytex Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, January 2nd were issued a dividend of $0.0225 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.09 annualized dividend and a yield of 1.7%. Baytex Energy’s payout ratio is currently 32.14%.

Insider Activity

In related news, Director Mark Bly acquired 20,000 shares of Baytex Energy stock in a transaction dated Wednesday, December 24th. The shares were acquired at an average cost of C$4.50 per share, for a total transaction of C$90,000.00. Following the completion of the transaction, the director directly owned 575,638 shares of the company’s stock, valued at C$2,590,371. The trade was a 3.60% increase in their ownership of the stock. Also, insider Chad Lundberg acquired 11,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 30th. The shares were bought at an average price of C$4.36 per share, with a total value of C$50,140.00. Following the transaction, the insider owned 532,801 shares in the company, valued at C$2,323,012.36. This represents a 2.21% increase in their position. 0.83% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BTE has been the subject of several analyst reports. Royal Bank Of Canada cut Baytex Energy from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, January 13th. TD Securities cut shares of Baytex Energy from a “buy” rating to a “hold” rating and set a C$5.00 price objective on the stock. in a research note on Friday, January 16th. Raymond James Financial upgraded shares of Baytex Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 13th. Scotiabank lifted their target price on shares of Baytex Energy from C$5.25 to C$5.50 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Finally, BMO Capital Markets raised shares of Baytex Energy from a “hold” rating to an “outperform” rating and increased their price target for the stock from C$3.00 to C$6.00 in a report on Thursday, November 13th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Baytex Energy currently has a consensus rating of “Moderate Buy” and an average target price of C$4.79.

Baytex Energy Company Profile

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.