Baytex Energy Corp. Forecasted to Post Q3 2024 Earnings of $0.20 Per Share (TSE:BTE)

Baytex Energy Corp. (TSE:BTE - Free Report) NYSE: BTE - Analysts at Atb Cap Markets lifted their Q3 2024 earnings per share estimates for shares of Baytex Energy in a research report issued on Monday, April 1st. Atb Cap Markets analyst A. Arif now anticipates that the company will post earnings per share of $0.20 for the quarter, up from their previous forecast of $0.19. The consensus estimate for Baytex Energy's current full-year earnings is $0.64 per share. Atb Cap Markets also issued estimates for Baytex Energy's FY2025 earnings at $0.61 EPS and FY2027 earnings at $0.15 EPS.

Several other research firms have also weighed in on BTE. ATB Capital reduced their price objective on Baytex Energy from C$6.50 to C$6.00 and set an "outperform" rating for the company in a research note on Thursday, February 29th. TD Securities reduced their price objective on Baytex Energy from C$6.50 to C$6.00 and set a "buy" rating for the company in a research note on Thursday, February 29th. National Bankshares decreased their target price on Baytex Energy from C$8.25 to C$7.25 and set an "outperform" rating for the company in a research report on Wednesday, January 10th. Stifel Nicolaus raised their target price on Baytex Energy from C$6.00 to C$6.25 and gave the stock a "buy" rating in a research report on Thursday, February 29th. Finally, CIBC decreased their target price on Baytex Energy from C$8.00 to C$6.00 and set a "neutral" rating for the company in a research report on Tuesday, January 16th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Baytex Energy has a consensus rating of "Moderate Buy" and an average price target of C$6.65.

Baytex Energy Price Performance

TSE BTE traded up C$0.05 on Thursday, reaching C$5.46. 4,653,511 shares of the stock traded hands, compared to its average volume of 4,219,263. The company has a market cap of C$4.49 billion, a price-to-earnings ratio of -16.55, a P/E/G ratio of 0.12 and a beta of 2.80. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 63.80. The firm's fifty day simple moving average is C$4.51 and its 200 day simple moving average is C$4.90. Baytex Energy has a 12 month low of C$3.83 and a 12 month high of C$6.37.

Baytex Energy (TSE:BTE - Get Free Report) NYSE: BTE last issued its quarterly earnings results on Wednesday, February 28th. The company reported C$0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of C$0.13 by C$0.12. The firm had revenue of C$1.07 billion during the quarter. Baytex Energy had a negative return on equity of 6.81% and a negative net margin of 8.60%.

Insider Activity

In other news, Senior Officer Eric Thomas Greager bought 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average cost of C$4.25 per share, with a total value of C$85,000.00. In related news, Director Tiffany Thom Cepak sold 40,000 shares of the business's stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of C$3.55, for a total value of C$142,000.00. Also, Senior Officer Eric Thomas Greager bought 20,000 shares of the company's stock in a transaction on Wednesday, March 6th. The shares were acquired at an average price of C$4.25 per share, with a total value of C$85,000.00. 0.84% of the stock is currently owned by company insiders.

Baytex Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.023 dividend. This represents a $0.09 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Thursday, March 14th. Baytex Energy's dividend payout ratio is currently -27.27%.

About Baytex Energy

Baytex Energy Corp., an energy company, engages in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas.