Baytex Energy (NYSE:BTE) Issues Quarterly Earnings Results

Key Points

• Baytex Energy reported quarterly EPS of $0.16, beating the $0.13 consensus, and revenue of $426.4 million versus analysts’ $309.7 million estimate. The company nevertheless posted a negative net margin of 26.43%.
• The company announced a quarterly dividend of C$0.02 per share, equivalent to a 2.1% annualized yield.
• Analyst sentiment is broadly positive: MarketBeat reports a consensus Buy rating, with four Strong Buy, three Buy, and four Hold ratings.

Baytex Energy (NYSE:BTE - Get Free Report) TSE: BTE posted its quarterly earnings data on Thursday. The oil and gas producer reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.03, Zacks reports. The company had revenue of $426.40 million during the quarter, compared to the consensus estimate of $309.71 million. Baytex Energy had a negative net margin of 26.43% and a negative return on equity of 7.77%.

Baytex Energy Stock Performance

Baytex Energy stock traded down $0.03 during mid-day trading on Friday, hitting $4.20. 23,932,497 shares of the company's stock traded hands, 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 two-hundred day simple moving average of $4.42. Baytex Energy has a fifty-two week low of $2.36 and a fifty-two week high of $5.61. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of -7.77 and a beta of 0.37.

Baytex Energy Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BTE shares. Wall Street Zen upgraded Baytex Energy from a "hold" rating to a "buy" rating in a research note on Saturday, October 17th. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of Baytex Energy in a research note on Friday, October 9th. TD Securities raised shares of Baytex Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday. Jefferies Financial Group initiated coverage on shares of Baytex Energy in a report on Tuesday, October 27th. They set a "buy" rating on the stock. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Baytex Energy in a research report on Wednesday, September 16th. Four investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus 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.

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