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Baytex Energy Corp. (NYSE: BTE) Stock Forecast For 2023: Weak With A -135.31 Percent Downside

In the latest trading session, 1.47 million Baytex Energy Corp. (NYSE:BTE) shares changed hands as the company’s beta touched 2.92. With the company’s most recent per share price at $3.20 changed hands at -$0.29 or -8.31% at last look, the market valuation stands at $2.72B. BTE’s current price is a discount, trading about -126.25% off its 52-week high of $7.24. The share price had its 52-week low at $3.40, which suggests the last value was -6.25% down since then. When we look at Baytex Energy Corp.’s average trading volume, we note the 10-day average is 3.46 million shares, with the 3-month average coming to 1.04 million.

Analysts gave the Baytex Energy Corp. (BTE) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.80. If we narrow down to specifics, the data shows that 0 out of 10 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 7 recommended BTE as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight.

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Baytex Energy Corp. (NYSE:BTE) trade information

Instantly BTE was in red as seen in intraday trades today. With action -18.16%, the performance over the past five days has been red. The drop to weekly highs of 4.02 on Tuesday, 03/14/23 subtracted -8.31% to the stock’s daily price. The company’s shares are showing year-to-date downside of -29.05%, with the 5-day performance at -18.16% in the red. However, in the 30-day time frame, Baytex Energy Corp. (NYSE:BTE) is -29.79% down.

The consensus price target for the stock as assigned by Wall Street analysts is $5.73, meaning bulls need an upside of 44.15% from its recent market value. According to analyst projections, BTE’s forecast low is $4.04 with $7.53 as the target high. To hit the forecast high, the stock’s price needs a -135.31% plunge from its current level, while the stock would need to soar -26.25% for it to hit the projected low.

Baytex Energy Corp. (BTE) estimates and forecasts

Data shows that the Baytex Energy Corp. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -34.56% over the past 6 months, a -46.79% in annual growth rate that is considerably lower than the industry average of -19.80%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 139.80%. The 2023 estimates are for Baytex Energy Corp. earnings to decrease by -46.20%, but the outlook for the next 5-year period is at 18.20% per year.

BTE Dividends

Baytex Energy Corp. is expected to release its next quarterly earnings report on May 04.

Baytex Energy Corp. (NYSE:BTE)’s Major holders

Vanguard International Stock Index-Total Intl Stock Indx holds the second largest percentage of outstanding shares, with 1.70% or 9.54 million shares worth $4.5 million as of Jul 30, 2020.

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