Baytex Energy (NYSE:BTE) Posts Earnings Results, Misses Expectations By $0.09 EPS

Key Points

• Baytex Energy missed earnings expectations, reporting EPS of -$0.08 versus the expected $0.01, a miss of $0.09 per share. The company also posted a negative net margin and negative return on equity.
• Revenue came in above estimates at $325.64 million, well ahead of the $228.04 million analysts had projected, showing stronger top-line performance despite the earnings loss.
• Shareholders approved all major proposals at the annual meeting, including the election of the full board and the appointment of KPMG LLP as auditor, with executive compensation also passing.

Baytex Energy (NYSE:BTE - Get Free Report) TSE: BTE posted its earnings results on Thursday. The oil and gas producer reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.09), Zacks reports. Baytex Energy had a negative net margin of 24.25% and a negative return on equity of 9.78%. The firm had revenue of $325.64 million for the quarter, compared to analysts' expectations of $228.04 million.

Here are the key takeaways from Baytex Energy's conference call:

• Baytex Energy held its annual shareholder meeting virtually, with management outlining how shareholders could participate, ask questions, and vote through the Lumi platform.
• The company reported that a quorum was present and that all resolutions received the required approvals, indicating shareholder support for the meeting’s proposals.
• All nominated directors were duly elected to Baytex’s board, including Mark Bly, Trudy Curran, Chad Lundberg, Don Hrap, Jennifer Maki, David Pearce, Steve Reynish, and Jeffrey Wojahn.
• Shareholders approved the appointment of KPMG LLP as auditor until the next annual meeting, with compensation to be set by the board.
• The advisory vote on executive compensation also passed, and Baytex said detailed voting results would be released within 48 hours.

Baytex Energy Price Performance

Baytex Energy stock traded down $0.04 during mid-day trading on Friday, reaching $4.83. 14,639,630 shares of the company were exchanged, compared to its average volume of 22,169,316. The firm has a market cap of $3.52 billion, a PE ratio of -6.89 and a beta of 0.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.61 and a quick ratio of 3.61. The company has a fifty day simple moving average of $4.27 and a 200-day simple moving average of $3.53. Baytex Energy has a 12 month low of $1.56 and a 12 month high of $5.24.

Baytex Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 15th will be paid a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, June 15th. Baytex Energy's dividend payout ratio (DPR) is -8.57%.

Analyst Ratings Changes

BTE has been the subject of a number of research analyst reports. TD Cowen cut Baytex Energy from a "buy" rating to a "hold" rating in a report on Friday, January 16th. Canaccord Genuity Group raised Baytex Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 14th. Weiss Ratings downgraded Baytex Energy from a "hold (c)" rating to a "sell (d)" rating in a research note on Friday, March 6th. TD Securities lowered Baytex Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, January 16th. Finally, Scotiabank reiterated an "outperform" rating on shares of Baytex Energy in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold".

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BTE. Alliancebernstein L.P. lifted its position in Baytex Energy by 7.4% during the second quarter. Alliancebernstein L.P. now owns 10,710,876 shares of the oil and gas producer's stock worth $19,172,000 after purchasing an additional 738,337 shares during the period. Goldman Sachs Group Inc. increased its holdings in Baytex Energy by 110.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,127,074 shares of the oil and gas producer's stock valued at $15,893,000 after buying an additional 3,743,234 shares during the period. UBS Group AG raised its position in shares of Baytex Energy by 39.5% in the 3rd quarter. UBS Group AG now owns 5,129,075 shares of the oil and gas producer's stock valued at $12,002,000 after buying an additional 1,452,603 shares in the last quarter. State of Wisconsin Investment Board bought a new stake in shares of Baytex Energy during the 4th quarter worth approximately $15,690,000. Finally, First Trust Advisors LP boosted its position in shares of Baytex Energy by 74.2% during the 2nd quarter. First Trust Advisors LP now owns 3,842,206 shares of the oil and gas producer's stock worth $6,878,000 after acquiring an additional 1,636,233 shares in the last quarter. Institutional investors own 46.15% of the company's stock.

More Baytex Energy News

Here are the key news stories impacting Baytex Energy this week:

• Positive Sentiment: Baytex raised its production guidance and nearly doubled its 3-year growth outlook, signaling confidence in future operating momentum. Baytex Delivers Strong First Quarter 2026 Results; Raises Production Guidance and Nearly Doubles 3-Year Growth Outlook; CEO Transition Complete
• Positive Sentiment: The company announced a quarterly dividend of C$0.0225 per share, reinforcing its shareholder-return commitment. Baytex Announces Quarterly Dividend for July 2026
• Positive Sentiment: Shareholders approved all items at the annual meeting, removing a governance overhang. Baytex Reports Shareholder Meeting Results
• Neutral Sentiment: Baytex’s earnings call emphasized growth pace and buybacks, which supports the stock but does not change the weak Q1 earnings headline by itself. Baytex Energy Ups Growth Pace and Buybacks
• Negative Sentiment: Q1 adjusted results missed expectations, with EPS of -$0.08 versus a $0.01 estimate, underscoring earnings pressure. Baytex Energy (BTE) Reports Q1 Loss, Tops Revenue Estimates
• Negative Sentiment: Revenue and profitability fell sharply year over year, with revenue down 47.5% and a net loss of $48.4 million, which likely pressured the shares. Baytex Energy Corp. (BTE) Releases Q1 2026 Earnings: Revenue Down 47.5%, Net Loss $48.4M

Baytex Energy Company Profile

Baytex Energy Corp. is an oil & gas exploration and production company. The firm engages in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. The company was founded on June 3, 1993 and is headquartered in Calgary, Canada.

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