Baytex Energy (NYSE:BTE – Get Free Report) (TSE:BTE) posted its earnings results 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. Baytex Energy had a negative net margin of 26.43% and a negative return on equity of 7.77%. The firm had revenue of $426.40 million during the quarter, compared to analyst estimates of $309.71 million.
Baytex Energy Trading Down 0.6%
Shares of NYSE BTE traded down $0.03 during trading hours on Friday, hitting $4.20. 23,932,497 shares of the company traded hands, compared to its average volume of 20,493,014. The company’s 50 day moving average price is $4.91 and its 200 day moving average price is $4.42. Baytex Energy has a 12 month low of $2.36 and a 12 month high of $5.61. The stock 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 current ratio of 2.82, a quick ratio of 2.79 and a debt-to-equity ratio of 0.06.
Baytex Energy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 15th will be given a dividend of C$0.02 per share. 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 payout ratio is currently -8.96%.
Wall Street Analyst Weigh In
Several equities analysts have commented on the stock. Raymond James Financial reiterated a “strong-buy” rating on shares of Baytex Energy in a research report on Wednesday, September 16th. Scotiabank restated an “outperform” rating on shares of Baytex Energy in a report on Monday, October 19th. Wall Street Zen upgraded shares of Baytex Energy from a “hold” rating to a “buy” rating in a report on Saturday, October 17th. Zacks Research upgraded shares of Baytex Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Baytex Energy in a report on Friday, October 9th. 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 MarketBeat, the company currently has an average rating of “Buy”.
Check Out Our Latest Report on BTE
Baytex Energy Company Profile
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.
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