Baytex Energy (TSE:BTE) Releases Earnings Results

Baytex Energy (TSE:BTE) (NYSE:BTE) issued its quarterly earnings data on Thursday. The company reported C($0.09) earnings per share (EPS) for the quarter, FiscalAI reports. Baytex Energy had a negative return on equity of 16.25% and a negative net margin of 40.77%.The firm had revenue of C$401.37 million during the quarter.

Baytex Energy Trading Down 2.5%

Shares of TSE:BTE opened at C$6.64 on Friday. Baytex Energy has a 52-week low of C$2.08 and a 52-week high of C$7.14. The stock has a market cap of C$4.90 billion, a price-to-earnings ratio of -8.51, a PEG ratio of 0.12 and a beta of 0.58. The company has a quick ratio of 0.77, a current ratio of 3.61 and a debt-to-equity ratio of 4.94. The business has a 50-day moving average price of C$5.86 and a 200-day moving average price of C$4.87.

Baytex Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Wednesday, April 1st were paid a $0.0225 dividend. This represents a $0.09 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, March 13th. Baytex Energy’s dividend payout ratio (DPR) is presently -11.54%.

Insider Transactions at Baytex Energy

In other news, insider Chadwick Kalmakoff acquired 15,000 shares of Baytex Energy stock in a transaction dated Friday, March 20th. The stock was purchased at an average cost of C$5.73 per share, for a total transaction of C$85,950.00. Following the completion of the purchase, the insider directly owned 382,331 shares in the company, valued at C$2,190,756.63. This trade represents a 4.08% increase in their position. Also, insider Chad Lundberg acquired 11,000 shares of the company’s stock in a transaction dated Monday, March 30th. The stock was acquired at an average cost of C$6.15 per share, for a total transaction of C$67,650.00. Following the completion of the acquisition, the insider directly owned 613,401 shares in the company, valued at approximately C$3,772,416.15. The trade was a 1.83% increase in their ownership of the stock. In the last ninety days, insiders have bought 49,800 shares of company stock valued at $293,188. 0.83% of the stock is owned by company insiders.

Analyst Ratings Changes

BTE has been the topic of a number of analyst reports. National Bank Financial lifted their price objective on shares of Baytex Energy from C$5.00 to C$5.75 and gave the stock an “outperform” rating in a research report on Thursday, March 5th. Canaccord Genuity Group raised shares of Baytex Energy from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$5.25 to C$7.00 in a research report on Tuesday, April 14th. Royal Bank Of Canada boosted their target price on shares of Baytex Energy from C$5.00 to C$6.50 and gave the stock a “sector perform” rating in a research report on Wednesday, April 8th. Raymond James Financial raised shares of Baytex Energy from a “hold” rating to a “moderate buy” rating and boosted their target price for the stock from C$5.50 to C$7.00 in a research report on Monday, March 30th. Finally, TD Securities boosted their target price on shares of Baytex Energy from C$5.00 to C$5.50 and gave the stock a “hold” rating in a research report on Thursday, March 5th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Baytex Energy has an average rating of “Moderate Buy” and a consensus target price of C$6.18.

About Baytex Energy

Baytex Energy Corp is an oil and gas company. Geographically, the group operates in Canada and the United States. The company derives a majority of revenue from Canada. Its Canada segment includes the exploration, development, and production of crude oil and natural gas in Western Canada.