Baytex Energy Corp [BTE] Is Currently 2.20 below its 200 Period Moving Avg: What Does This Mean?

Baytex Energy Corp [NYSE: BTE] gained 2.20% or 0.08 points to close at $3.71 with a heavy trading volume of 10685841 shares. The company report on April 1, 2024 at 12:22 PM that Baytex Announces Closing of US$575 Million Private Placement Offering of Senior Notes.

Calgary, Alberta–(Newsfile Corp. – April 1, 2024) – Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) (“Baytex”) announced today the closing of its private placement offering (the “Offering”) of US$575 million aggregate principal amount of senior unsecured notes due 2032 (the “Notes”). The Notes bear interest at a rate of 7.375% per annum and mature on March 15, 2032. The Notes were priced at 99.266% of par to yield 7.500% per annum.

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Baytex intends to use the net proceeds from the Offering to redeem US$409.8 million aggregate principal amount of its outstanding 8.75% notes due April 1, 2027 (the “2027 Notes”), to repay a portion of the debt outstanding on its credit facilities and for general corporate purposes.

The daily chart for BTE points out that the company has recorded -13.92% loss over the past six months.

If we look at the average trading volume of 8.76M shares, BTE reached to a volume of 10685841 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $4.67 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 1.44. 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 1.52. The Price to Book ratio for the last quarter was 1.05, 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 20.84 with Quick ratio for the last quarter at 0.79.

Trading performance analysis for BTE stock

Baytex Energy Corp [BTE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.61. With this latest performance, BTE shares gained by 16.30% in over the last four-week period, additionally sinking by -13.92% over the last 6 months – not to mention a drop of -0.54% 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 67.41, with the RSI for the last a single of trading hit 71.74, and the three-weeks RSI is set at 63.51 for Baytex Energy Corp [BTE]. The present Moving Average for the last 50 days of trading for this stock 3.27, while it was recorded at 3.57 for the last single week of trading, and 3.65 for the last 200 days.

Baytex Energy Corp [BTE]: A deeper dive into fundamental analysis

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.

Baytex Energy Corp [BTE]: An earnings per share (EPS) analysis

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%.

An analysis of Institutional ownership at Baytex Energy Corp [BTE]

The top three institutional holders of BTE stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in BTE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in BTE stock with ownership which is approximately 5.8386%.