Wall Street analysts predict that Baytex Energy (NYSE:BTE) (TSE:BTE) will announce earnings of ($0.13) per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Baytex Energy’s earnings. Baytex Energy posted earnings per share of $0.04 during the same quarter last year, which would indicate a negative year-over-year growth rate of 425%. The company is scheduled to issue its next earnings results before the market opens on Thursday, May 3rd.
On average, analysts expect that Baytex Energy will report full year earnings of ($0.45) per share for the current year, with EPS estimates ranging from ($0.49) to ($0.41). For the next fiscal year, analysts expect that the company will report earnings of ($0.18) per share, with EPS estimates ranging from ($0.26) to ($0.09). Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover Baytex Energy.
Baytex Energy (NYSE:BTE) (TSE:BTE) last announced its quarterly earnings results on Tuesday, March 6th. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.03. The company had revenue of $302.19 million during the quarter, compared to the consensus estimate of $278.72 million. Baytex Energy had a net margin of 10.56% and a negative return on equity of 0.82%. The company’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.66) earnings per share.
A number of analysts recently weighed in on BTE shares. GMP Securities upgraded Baytex Energy from a “hold” rating to a “buy” rating in a report on Friday, March 9th. AltaCorp Capital upgraded Baytex Energy to a “buy” rating and set a $5.75 price objective for the company in a report on Monday, January 15th. ValuEngine downgraded Baytex Energy from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. Finally, Zacks Investment Research upgraded Baytex Energy from a “hold” rating to a “buy” rating and set a $3.25 price objective for the company in a report on Friday, March 9th. Five analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $4.42.
Shares of NYSE:BTE traded up $0.01 during trading on Monday, hitting $2.96. 1,990,468 shares of the company were exchanged, compared to its average volume of 1,926,247. The company has a market capitalization of $697.91, a PE ratio of -147.50 and a beta of 3.16. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.67 and a current ratio of 0.67. Baytex Energy has a 1-year low of $2.13 and a 1-year high of $3.63.
Institutional investors and hedge funds have recently modified their holdings of the business. Two Sigma Advisers LP bought a new stake in Baytex Energy during the fourth quarter valued at $240,000. Aperio Group LLC boosted its position in Baytex Energy by 386.5% during the fourth quarter. Aperio Group LLC now owns 91,099 shares of the oil and gas producer’s stock valued at $273,000 after acquiring an additional 72,373 shares during the last quarter. Penbrook Management LLC bought a new stake in Baytex Energy during the fourth quarter valued at $343,000. HBK Investments L P boosted its position in Baytex Energy by 145.6% during the fourth quarter. HBK Investments L P now owns 163,100 shares of the oil and gas producer’s stock valued at $489,000 after acquiring an additional 96,700 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Baytex Energy by 39.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 269,268 shares of the oil and gas producer’s stock valued at $808,000 after acquiring an additional 76,262 shares during the last quarter. 21.41% of the stock is currently owned by institutional investors and hedge funds.
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About Baytex Energy
Baytex Energy Corp., an oil and gas company, engages in the acquisition, development, and production of oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. It offers heavy oil, heavy gravity crude oil, bitumen, light oil, and natural gas liquids. Its primary oil resource plays include the Eagle Ford in Texas, and the Peace River Oil Sands and Lloydminster heavy oil projects in North America.
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