Baytex Energy (TSE:BTE) Releases Earnings Results

Baytex Energy (TSE:BTE) (NYSE:BTE) posted its earnings results on Thursday. The company reported C$0.23 earnings per share (EPS) for the quarter, FiscalAI reports. Baytex Energy had a negative net margin of 131.38% and a negative return on equity of 26.41%. The business had revenue of C$511.39 million for the quarter.

Baytex Energy Stock Performance

BTE opened at C$5.93 on Friday. Baytex Energy has a twelve month low of C$3.30 and a twelve month high of C$7.87. The firm has a market capitalization of C$4.15 billion, a PE ratio of -6.45, a PEG ratio of 0.12 and a beta of 0.69. The company has a current ratio of 2.82, a quick ratio of 0.77 and a debt-to-equity ratio of 6.94. The firm’s 50-day moving average price is C$6.91 and its 200 day moving average price is C$6.14.

Baytex Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, October 1st were given a dividend of $0.0225 per share. The ex-dividend date was Tuesday, September 15th. This represents a $0.09 dividend on an annualized basis and a yield of 1.5%. Baytex Energy’s payout ratio is presently -7.34%.

Analysts Set New Price Targets

BTE has been the subject of several recent analyst reports. National Bank Financial lifted their price target on Baytex Energy from C$8.50 to C$9.50 and gave the company an “outperform” rating in a research note on Wednesday, September 30th. Jefferies Financial Group started coverage on Baytex Energy in a research report on Tuesday, October 27th. They set a “buy” rating and a C$9.00 price target on the stock. Finally, Raymond James Financial raised their price objective on Baytex Energy from C$8.00 to C$8.50 and gave the company a “strong-buy” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Baytex Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of C$7.32.

About Baytex Energy

Baytex Energy Corp. is a Calgary -based energy company committed to driving shareholder value through disciplined execution. It operates a high-quality, high-return portfolio in the Western Canadian Sedimentary Basin, featuring the Pembina Duvernay and heavy oil plays in Alberta and Saskatchewan. These core assets are backed by an extensive drilling inventory and consistently generate strong cash flow.