Baytex Energy Corp (BTE) Issues Quarterly Earnings Results, Beats Estimates By $0.51 EPS
Baytex Energy Corp (NYSE:BTE) (TSE:BTE) issued its quarterly earnings results on Thursday. The oil and gas producer reported $0.33 EPS for the quarter, beating the consensus estimate of ($0.18) by $0.51, Briefing.com reports. Baytex Energy Corp had a negative net margin of 38.91% and a negative return on equity of 5.17%. During the same quarter in the prior year, the business posted ($0.19) EPS.
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BTE has been the topic of several analyst reports. Canaccord Genuity reiterated a “buy” rating and set a $4.25 price target on shares of Baytex Energy Corp in a report on Thursday. Zacks Investment Research upgraded shares of Baytex Energy Corp from a “sell” rating to a “hold” rating in a report on Friday, August 11th. AltaCorp Capital downgraded shares of Baytex Energy Corp from an “outperform” rating to a “sector perform” rating in a report on Friday, October 6th. BidaskClub downgraded shares of Baytex Energy Corp from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Finally, ValuEngine downgraded shares of Baytex Energy Corp from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Six equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $6.80.
Baytex Energy Corp Company Profile
Baytex Energy Corp. (Baytex) is engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (Alberta and Saskatchewan) and in the United States (Texas). The Company’s crude oil and natural gas operations are organized into four business units: Lloydminster, Peace River, Conventional and United States.
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