Baytex Energy Corp [NYSE: BTE] jumped around 0.04 points on Friday, while shares priced at $3.23 at the close of the session, up 1.25%. The company report on February 28, 2024 at 5:01 PM that Baytex Announces Fourth Quarter and Full Year 2023 Financial and Operating Results and Year End Reserves.
Calgary, Alberta–(Newsfile Corp. – February 28, 2024) – Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) (“Baytex”) reports its operating and financial results for the three months and year ended December 31, 2023 (all amounts are in Canadian dollars unless otherwise noted).
“Our 2023 results demonstrate the strength of our oil-weighted portfolio. The strategic acquisition of Ranger added quality scale in the Eagle Ford and reinforced the resiliency and sustainability of our business. In 2023, we increased production per share by 16% and fourth quarter production exceeded guidance with continued strong results in the Eagle Ford and Peavine. During 2023, we increased shareholder returns to 50% of free cash flow, increased our share buyback program and introduced a quarterly dividend. We are well-capitalized and remain committed to creating long-term value and increasing shareholder returns,” commented Eric T. Greager, President and Chief Executive Officer.
Compared to the average trading volume of 8.68M shares, BTE reached a trading volume of 19265343 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $4.76 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 new note on the price target was released on September 29, 2023, representing the official price target for Baytex Energy Corp stock.
The Average True Range (ATR) for Baytex Energy Corp is set at 0.13, with the Price to Sales ratio for BTE stock in the period of the last 12 months amounting to 1.36. The Price to Book ratio for the last quarter was 0.91, with the Price to Cash per share for the same quarter was set at 0.05. Price to Free Cash Flow for BTE in the course of the last twelve months was 18.67 with Quick ratio for the last quarter at 0.79.
How has BTE stock performed recently?
Baytex Energy Corp [BTE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.00. With this latest performance, BTE shares gained by 1.57% in over the last four-week period, additionally sinking by -20.05% over the last 6 months – not to mention a drop of -18.43% 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 48.09, with the RSI for the last a single of trading hit 45.24, and the three-weeks RSI is set at 48.24 for Baytex Energy Corp [BTE]. The present Moving Average for the last 50 days of trading for this stock 3.22, while it was recorded at 3.36 for the last single week of trading, and 3.65 for the last 200 days.
Baytex Energy Corp [BTE]: Deeper insight into the fundamentals
Baytex Energy Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.79 and a Current Ratio set at 0.79.
Earnings analysis for Baytex Energy Corp [BTE]
With the latest financial reports released by the company, Baytex Energy Corp posted 0.07/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 fail the estimates by a Surprise Factor of -30.00%. 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%.
Insider trade positions for Baytex Energy Corp [BTE]
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%.
