In the last trading session, 6.36 million Baytex Energy Corp. (NYSE:BTE) shares changed hands as the company’s beta touched 2.07. With the company’s per share price at $4.33 changed hands at -$0.05 or -1.14% during last session, the market valuation stood at $5.09B. BTE’s last price was a discount, traded about -39.03% off its 52-week high of $6.02. The share price had its 52-week low at $2.89, which suggests the last value was 33.26% up since then. When we look at Baytex Energy Corp.’s average trading volume, we note the 10-day average is 6.14 million shares, with the 3-month average coming to 6.39 million.
Analysts gave the Baytex Energy Corp. (BTE) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.30. If we narrow down to specifics, the data shows that 0 out of 12 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 5 recommended BTE as a Hold, 7 felt it is a Buy and 0 rated the stock as Underweight. Baytex Energy Corp.’s EPS for the current quarter is expected to be $0.14.
Baytex Energy Corp. (NYSE:BTE) trade information
Instantly BTE was in red as seen at the end of in last trading. With action 3.10%, the performance over the past five days has been green. The drop to weekly highs of 4.43 on Friday, 09/15/23 subtracted -1.14% to the stock’s daily price. The company’s shares are showing year-to-date downside of -3.99%, with the 5-day performance at 3.10% in the green. However, in the 30-day time frame, Baytex Energy Corp. (NYSE:BTE) is 11.31% up. Looking at the short shares, we see there were 15.75 million shares sold at short interest cover period of 3.67 days.
The consensus price target for the stock as assigned by Wall Street analysts is $5.31, meaning bulls need an upside of 18.46% from its current market value. According to analyst projections, BTE’s forecast low is $4.05 with $6.42 as the target high. To hit the forecast high, the stock’s price needs a -48.27% plunge from its current level, while the stock would need to tank 6.47% 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 30.82% over the past 6 months, a -40.37% in annual growth rate that is considerably lower than the industry average of -29.20%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Baytex Energy Corp. will fall -60.00%, while the growth in revenue is estimated to hit -63.80% for the next quarter. Year-over-year growth is forecast to reach 38.20% up from the last financial year.
Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $767.41 million. 1 analysts are of the opinion that Baytex Energy Corp.’s revenue for the quarter ending Dec 2023 will be $794.67 million. The company’s revenue for the corresponding quarters a year ago was $417.34 million and $386.07 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 83.90%. The estimates for the next quarter sales put growth at 105.80%.
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.
Baytex Energy Corp. is expected to release its next quarterly earnings report in October. The 2.08% annual yield figure for the share gives it an annual dividend of 0.09. It is important to note, however, that the 2.08% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Baytex Energy Corp. (NYSE:BTE)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 20.71% of Baytex Energy Corp. shares while 17.14% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 21.62%. There are 17.14% institutions holding the Baytex Energy Corp. stock share, with Ninepoint Partners LP the top institutional holder. As of Jun 29, 2023, the company held 4.69% of the shares, roughly 40.0 million BTE shares worth $130.4 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 2.84% or 24.25 million shares worth $79.05 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Apr 29, 2023 were Vanguard International Stock Index-Total Intl Stock Indx and Vanguard Tax Managed Fund-Vanguard Developed Markets Index Fund. With 7.25 million shares estimated at $27.33 million under it, the former controlled 0.85% of total outstanding shares. On the other hand, Vanguard Tax Managed Fund-Vanguard Developed Markets Index Fund held about 0.63% of the shares, roughly 5.41 million shares worth around $17.62 million.