In the last trading session, 12.17 million Baytex Energy Corp (NYSE:BTE) shares changed hands as the company’s beta touched 1.88. With the company’s per share price at $3.44 changed hands at -$0.13 or -3.64% during last session, the market valuation stood at $2.83B. BTE’s last price was a discount, traded about -35.17% off its 52-week high of $4.65. The share price had its 52-week low at $2.89, which suggests the last value was 15.99% up since then. When we look at Baytex Energy Corp’s average trading volume, we note the 10-day average is 7.83 million shares, with the 3-month average coming to 8.54 million.
Baytex Energy Corp (NYSE:BTE) trade information
Instantly BTE was in red as seen at the end of in last trading. With action -0.29%, the performance over the past five days has been red. The drop to weekly highs of 3.62 subtracted -3.64% to the stock’s daily price. The company’s shares are showing year-to-date upside of 3.61%, with the 5-day performance at -0.29% in the red. Looking at the short shares, we see there were 18.53 million shares sold at short interest cover period of 1.93 days.
Baytex Energy Corp (BTE) estimates and forecasts
Data shows that the Baytex Energy Corp share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -17.90% over the past 6 months, a 4.08% in annual growth rate that is considerably higher than the industry average of -4.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Baytex Energy Corp will fall -14.30%, while the growth in revenue is estimated to hit -44.40% for the next quarter. Year-over-year growth is forecast to reach -10.80% down 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 $659.52 million. 1 analysts are of the opinion that Baytex Energy Corp’s revenue for the quarter ending Jun 2024 will be $698.9 million. The company’s revenue for the corresponding quarters a year ago was $420.67 million and $441.06 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 56.80%. The estimates for the next quarter sales put growth at 58.50%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 19.24%. The 2024 estimates are for Baytex Energy Corp earnings to increase by 297.84%, 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 09. The 1.46% annual yield figure for the share gives it an annual dividend of 0.05. It is important to note, however, that the 1.46% 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 0.84% of Baytex Energy Corp shares while 36.62% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 36.93%. There are 36.62% institutions holding the Baytex Energy Corp stock share, with Ninepoint Partners LP the top institutional holder. As of Jun 29, 2023, the company held 4.73% 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 2.87% or 24.25 million shares worth $79.05 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jul 30, 2023 were Vanguard International Stock Index-Total Intl Stock Indx and Vanguard Tax Managed Fund-Vanguard Developed Markets Index Fund. With 9.15 million shares estimated at $36.96 million under it, the former controlled 1.08% of total outstanding shares. On the other hand, Vanguard Tax Managed Fund-Vanguard Developed Markets Index Fund held about 0.64% of the shares, roughly 5.41 million shares worth around $17.62 million.
