Baytex Energy (NYSE:BTE) Issues Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Baytex Energy (NYSE:BTE) (TSE:BTE) posted its earnings results on Thursday. The oil and gas producer reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.09), Zacks reports. Baytex Energy had a negative return on equity of 9.78% and a negative net margin of 24.25%.The business 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

Shares of BTE traded down $0.04 during midday trading on Friday, reaching $4.83. The stock had a trading volume of 14,639,630 shares, compared to its average volume of 22,169,316. The company’s 50-day moving average is $4.27 and its 200 day moving average is $3.53. Baytex Energy has a 12-month low of $1.56 and a 12-month high of $5.24. The company has a current ratio of 3.61, a quick ratio of 3.61 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of -6.89 and a beta of 0.39.

Baytex Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 15th will be issued a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, June 15th. Baytex Energy’s dividend payout ratio is presently -10.00%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Canaccord Genuity Group upgraded Baytex Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. TD Securities cut Baytex Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Raymond James Financial upgraded Baytex Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 30th. Weiss Ratings cut Baytex Energy from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, March 6th. Finally, Zacks Research upgraded Baytex Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Baytex Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Alliancebernstein L.P. boosted its holdings in shares of Baytex Energy by 7.4% in the 2nd 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 in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of 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 acquiring an additional 3,743,234 shares during the last quarter. UBS Group AG lifted its stake 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 acquiring an additional 1,452,603 shares during the last quarter. State of Wisconsin Investment Board bought a new stake in shares of Baytex Energy in the 4th quarter valued at about $15,690,000. Finally, First Trust Advisors LP lifted its stake in shares of Baytex Energy by 74.2% in the 2nd quarter. First Trust Advisors LP now owns 3,842,206 shares of the oil and gas producer’s stock valued at $6,878,000 after acquiring an additional 1,636,233 shares during the last quarter. 46.15% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Baytex Energy

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.