Baytex Energy (NYSE:BTE) Releases Earnings Results, Beats Estimates By $0.03 EPS

Baytex Energy (NYSE:BTE) (TSE:BTE) posted its quarterly earnings data on Thursday. The oil and gas producer reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03, Zacks reports. The business had revenue of $426.40 million during the quarter, compared to analyst estimates 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 Trading Down 0.6%

Baytex Energy stock traded down $0.03 during trading on Friday, reaching $4.20. The company had a trading volume of 23,932,497 shares, compared to its average volume of 20,493,014. Baytex Energy has a 12-month low of $2.36 and a 12-month high of $5.61. The stock’s 50 day moving average price is $4.91 and its two-hundred day moving average price is $4.42. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of -7.77 and a beta of 0.37. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.79 and a current ratio of 2.82.

Baytex Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 15th will be given a C$0.02 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $0.09 annualized dividend and a dividend yield of 2.1%. Baytex Energy’s dividend payout ratio (DPR) is currently -8.96%.

Analyst Ratings Changes

Several research firms have commented on BTE. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Baytex Energy in a research note on Friday, October 9th. Jefferies Financial Group began coverage on Baytex Energy in a research note on Tuesday, October 27th. They set a “buy” rating on the stock. Raymond James Financial reissued a “strong-buy” rating on shares of Baytex Energy in a research note on Wednesday, September 16th. Zacks Research upgraded Baytex Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Finally, TD Securities raised Baytex Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday. Four research 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

About Baytex Energy

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.