Baytex Energy Corp [BTE] Revenue clocked in at $1.78 billion, down -3.31% YTD: What’s Next?

Baytex Energy Corp [NYSE: BTE] stock went on an upward path that rose over 3.88% on Monday, amounting to a one-week price increase of more than 8.08%. The company report on December 6, 2023 at 6:30 AM that Baytex Announces 2024 Budget and Five-Year Outlook with Continued Focus on Free Cash Flow Generation and Shareholder Returns.

Calgary, Alberta–(Newsfile Corp. – December 6, 2023) – Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) (“Baytex”) announces that its Board of Directors has approved a budget for 2024 exploration and development expenditures of $1.2 to $1.3 billion, which is designed to generate average annual production of 150,000 to 156,000 boe/d.

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“Our 2024 budget and five-year outlook demonstrates the strength of our diversified oil-weighted portfolio in western Canada and the Eagle Ford shale in Texas. In 2024, we intend to progress the Pembina Duvernay, further delineate our Clearwater and Mannville heavy oil position, and deliver strong drilling and completion performance in the Eagle Ford. Our business is underpinned by strong drilling economics and greater than ten years inventory across our portfolio, and our commitment to shareholder returns is expected to drive meaningful per-share growth in production and free cash flow,” commented Eric T. Greager, President and Chief Executive Officer.

Over the last 12 months, BTE stock dropped by -27.70%. The one-year Baytex Energy Corp stock forecast points to a potential upside of 35.02. The average equity rating for BTE stock is currently 1.40, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.71 billion, with 845.40 million shares outstanding and 735.94 million shares in the current float. Compared to the average trading volume of 1.10 shares, BTE stock reached a trading volume of 9037984 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $4.94 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 1.40. 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.

The Average True Range (ATR) for Baytex Energy Corp is set at 0.11, with the Price to Sales ratio for BTE stock in the period of the last 12 months amounting to 1.52. The Price to Book ratio for the last quarter was 0.78, 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 20.17 with Quick ratio for the last quarter at 0.77.

BTE Stock Performance Analysis:

Baytex Energy Corp [BTE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.08. With this latest performance, BTE shares gained by 1.90% in over the last four-week period, additionally sinking by -22.65% over the last 6 months – not to mention a drop of -27.70% 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 53.47, with the RSI for the last a single of trading hit 60.01, and the three-weeks RSI is set at 49.33 for Baytex Energy Corp [BTE]. The present Moving Average for the last 50 days of trading for this stock 3.24, while it was recorded at 3.09 for the last single week of trading, and 3.66 for the last 200 days.

Insight into Baytex Energy Corp Fundamentals:

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.

BTE Stock EPS

With the latest financial reports released by the company, Baytex Energy Corp posted 0.47/share EPS, while the average EPS was predicted by analysts to be reported at 0.1/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 370.00%. 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] Institutonal Ownership Details

The top three institutional holders of BTE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BTE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BTE stock with ownership which is approximately 5.8325%.