Baytex Energy (NYSE:BTE) Releases Earnings Results, Beats Expectations By $0.03 EPS

Baytex Energy (NYSE:BTE) (TSE:BTE) released its earnings results on Thursday. The oil and gas producer reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03, Zacks reports. Baytex Energy had a negative net margin of 26.43% and a negative return on equity of 7.77%. The business had revenue of $426.40 million during the quarter, compared to analysts’ expectations of $309.71 million.

Baytex Energy Trading Down 0.6%

Shares of BTE traded down $0.03 during midday trading on Friday, reaching $4.20. The company had a trading volume of 23,932,497 shares, compared to its average volume of 20,493,014. Baytex Energy has a 1-year low of $2.36 and a 1-year high of $5.61. The company has a quick ratio of 2.79, a current ratio of 2.82 and a debt-to-equity ratio of 0.06. The firm has a 50 day simple moving average of $4.91 and a 200-day simple moving average of $4.42. The stock has a market cap of $2.87 billion, a PE ratio of -7.77 and a beta of 0.37.

Baytex Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Tuesday, December 15th will be issued a C$0.02 dividend. This represents a $0.09 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, December 15th. Baytex Energy’s dividend payout ratio is presently -8.96%.

Wall Street Analyst Weigh In

BTE has been the topic of a number of research reports. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Baytex Energy in a research note on Friday, October 9th. TD Securities upgraded Baytex Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday. Scotiabank reissued an “outperform” rating on shares of Baytex Energy in a report on Monday, October 19th. Weiss Ratings upgraded Baytex Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. Finally, Jefferies Financial Group assumed coverage on Baytex Energy in a report on Tuesday, October 27th. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Baytex Energy has a consensus rating of “Buy”.

Baytex Energy Company Profile

Baytex Energy Corp. is a Canadian oil and natural gas exploration and production company headquartered in Calgary, Alberta. The company develops and produces crude oil, condensate, natural gas liquids and natural gas.

Baytex’s operations are focused on the Western Canadian Sedimentary Basin in Alberta and Saskatchewan and the Eagle Ford shale in South Texas. Its portfolio includes light oil, heavy oil and natural gas assets, with production sold into North American energy markets.

Founded in 1993, Baytex became a publicly traded corporation in 2010 after operating as an income trust.