Baytex Energy Corp [BTE] is -1.77% lower this YTD. Is it still time to buy?

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Baytex Energy Corp [NYSE: BTE] closed the trading session at $4.43 on 11/03/23. The day’s price range saw the stock hit a low of $4.3302, while the highest price level was $4.65. The company report on November 2, 2023 at 5:02 PM that Baytex Announces Third Quarter 2023 Results.

Calgary, Alberta–(Newsfile Corp. – November 2, 2023) – Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) (“Baytex”) reports its operating and financial results for the three and nine months ended September 30, 2023 (all amounts are in Canadian dollars unless otherwise noted).

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“Our third quarter results represent the first full quarter of combined operations following the Ranger acquisition and demonstrate the strength of our diversified North American oil-weighted portfolio. The integration has progressed extremely well and we have delivered strong results from Western Canada and the Eagle Ford in Texas. We are building momentum with current production exceeding 155,000 boe/d (84% oil and NGLs). Currently, we expect to generate free cash flow of approximately $400 million in Q4/2023 and $650 million for this year. As a result of this strong free cash flow, we have increased the pace of our share buyback program during the fourth quarter. We are also excited to announce two new land extensions at Peavine and Cold Lake as we continue to leverage our heavy oil expertise and recent exploration successes,” commented Eric T. Greager, President and Chief Executive Officer.

The stocks have a year to date performance of -1.77 percent and weekly performance of 2.07 percent. The stock has been moved at 24.44 percent over the last six months. The stock has performed 14.77 percent around the most recent 30 days and changed 8.85 percent over the most recent 3-months.

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If compared to the average trading volume of 7.57M shares, BTE reached to a volume of 14491359 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Baytex Energy Corp [BTE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BTE shares is $5.74 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BTE stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

National Bank Financial have made an estimate for Baytex Energy Corp shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 03, 2023.

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The Average True Range (ATR) for Baytex Energy Corp is set at 0.19, with the Price to Sales ratio for BTE stock in the period of the last 12 months amounting to 2.14. The Price to Book ratio for the last quarter was 1.07, with the Price to Cash per share for the same quarter was set at 0.02. Price to Free Cash Flow for BTE in the course of the last twelve months was 28.39 with Quick ratio for the last quarter at 0.77.

BTE stock trade performance evaluation

Baytex Energy Corp [BTE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.07. With this latest performance, BTE shares gained by 14.77% in over the last four-week period, additionally plugging by 24.44% over the last 6 months – not to mention a drop of -18.42% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BTE stock in for the last two-week period is set at 56.46, with the RSI for the last a single of trading hit 56.81, and the three-weeks RSI is set at 56.23 for Baytex Energy Corp [BTE]. The present Moving Average for the last 50 days of trading for this stock 4.23, while it was recorded at 4.39 for the last single week of trading, and 3.87 for the last 200 days.

Baytex Energy Corp [BTE]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Baytex Energy Corp [BTE] shares currently have an operating margin of +40.97 and a Gross Margin at +44.38. Baytex Energy Corp’s Net Margin is presently recorded at +36.78.

Return on Total Capital for BTE is now 25.19, given the latest momentum, and Return on Invested Capital for the company is 22.64. Return on Equity for this stock inclined to 32.65, with Return on Assets sitting at 17.22. When it comes to the capital structure of this company, Baytex Energy Corp [BTE] has a Total Debt to Total Equity ratio set at 30.93. Additionally, BTE Total Debt to Total Capital is recorded at 23.62, with Total Debt to Total Assets ending up at 18.36. Long-Term Debt to Equity for the company is recorded at 30.81, with the Long-Term Debt to Total Capital now at 23.53.

Reflecting on the efficiency of the workforce at the company, Baytex Energy Corp [BTE] managed to generate an average of $3,854,077 per employee. Receivables Turnover for the company is 11.58 with a Total Asset Turnover recorded at a value of 0.47.Baytex Energy Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.77 and a Current Ratio set at 0.77.

Earnings per share (EPS) analysis for Baytex Energy Corp [BTE] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BTE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Baytex Energy Corp go to 18.20%.

Baytex Energy Corp [BTE]: Institutional Ownership

The top three institutional holders of BTE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in BTE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in BTE stock with ownership which is approximately 5.7994%.

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