Atb Cap Markets Brokers Raise Earnings Estimates for Baytex Energy Corp. (TSE:BTE)

Baytex Energy Corp. (TSE:BTE - Free Report) NYSE: BTE - Equities researchers at Atb Cap Markets boosted their Q1 2024 earnings per share estimates for Baytex Energy in a report released on Monday, April 22nd. Atb Cap Markets analyst A. Arif now anticipates that the company will earn $0.16 per share for the quarter, up from their prior forecast of $0.15. The consensus estimate for Baytex Energy's current full-year earnings is $0.74 per share. Atb Cap Markets also issued estimates for Baytex Energy's Q2 2024 earnings at $0.17 EPS and FY2024 earnings at $0.73 EPS.

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

Several other research analysts have also issued reports on BTE. CIBC increased their price objective on Baytex Energy from C$6.00 to C$6.50 and gave the stock a "neutral" rating in a research note on Monday. BMO Capital Markets set a C$6.00 price objective on Baytex Energy and gave the stock a "market perform" rating in a research report on Tuesday, April 9th. National Bankshares cut their price objective on Baytex Energy from C$8.25 to C$7.25 and set an "outperform" rating on the stock in a report on Wednesday, January 10th. Raymond James dropped their target price on Baytex Energy from C$6.75 to C$5.00 and set a "market perform" rating on the stock in a research report on Friday, January 19th. Finally, TD Securities lowered their price target on Baytex Energy from C$6.50 to C$6.00 and set a "buy" rating on the stock in a research report on Thursday, February 29th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of C$6.53.

Baytex Energy Stock Performance

BTE stock traded up C$0.19 during midday trading on Tuesday, hitting C$5.20. The stock had a trading volume of 5,696,881 shares, compared to its average volume of 4,356,045. The firm has a market capitalization of C$4.27 billion, a price-to-earnings ratio of -15.64, a P/E/G ratio of 0.12 and a beta of 2.78. Baytex Energy has a 52 week low of C$3.83 and a 52 week high of C$6.37. The stock has a 50-day simple moving average of C$4.73 and a 200 day simple moving average of C$4.85. The company has a current ratio of 0.79, a quick ratio of 0.77 and a debt-to-equity ratio of 63.80.

Insider Buying and Selling

In other Baytex Energy news, Senior Officer Eric Thomas Greager acquired 20,000 shares of the company's stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average cost of C$4.25 per share, for a total transaction of C$85,000.00. In other news, Director Tiffany Thom Cepak sold 40,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of C$3.55, for a total value of C$142,000.00. Also, Senior Officer Eric Thomas Greager purchased 20,000 shares of the firm's stock in a transaction dated Wednesday, March 6th. The stock was bought at an average cost of C$4.25 per share, with a total value of C$85,000.00. 0.73% of the stock is owned by corporate insiders.

Baytex Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a dividend of $0.023 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.09 annualized dividend and a dividend yield of 1.77%. Baytex Energy's dividend payout ratio is currently -27.27%.

Baytex Energy Company Profile

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.