Baytex Energy Corp (NYSE: BTE) Stock: Can It Surge Further?

In today’s recent session, 5.05 million shares of the Baytex Energy Corp (NYSE:BTE) have been traded, and its beta is 1.89. Most recently the company’s share price was $3.69, and it changed around $0.06 or 1.65% from the last close, which brings the market valuation of the company to $3.03B. BTE at last check was trading at a discount to its 52-week high of $4.65, offering almost -26.02% off that amount. The share price’s 52-week low was $2.89, which indicates that the recent value has risen by an impressive 21.68% since then. We note from Baytex Energy Corp’s average daily trading volume that its 10-day average is 8.77 million shares, with the 3-month average coming to 8.76 million.

Baytex Energy Corp stock received a consensus recommendation rating of Hold, based on a mean score of 1.44. If we narrow it down even further, the data shows that 1 out of 8 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 5 recommended BTE as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Baytex Energy Corp is expected to report earnings per share of $0.06 for the current quarter.

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Baytex Energy Corp (NYSE:BTE) trade information

Instantly BTE has been showing a green trend so far today with a performance of 1.65% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently up 11.14% year-to-date, but still up 6.03% over the last five days. On the other hand, Baytex Energy Corp (NYSE:BTE) is 15.67% up in the 30-day period. We can see from the shorts that 14.49 million shares have been sold at a short interest cover period of 1.93 day(s).

Baytex Energy Corp (BTE) estimates and forecasts

Baytex Energy Corp share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -14.39 percent over the past six months and at a 4.08% annual growth rate that is well above the industry average of -5.20%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -14.30% in revenue this quarter, and will report a decrease of -40.70% in the next quarter. The year-over-year growth rate is expected to be -10.80%, down from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $664.45 million in revenue for the current quarter. 1 analysts expect Baytex Energy Corp to make $704.11 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $420.67 million and $441.06 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 58.00%. Forecasts for the next quarter put sales growth at 59.60%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 19.24%. Baytex Energy Corp earnings are expected to increase by 306.82% in 2024, but the outlook is positive 18.20% per year for the next five years.

BTE Dividends

Baytex Energy Corp’s next quarterly earnings report is expected to be released on May 09. The annual dividend yield of the stock is 1.35 percent and its annual dividend per share was 0.05. It is important to note, however, that the 1.35% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

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

Upon looking at major shareholders, it appears that insiders hold 0.84% of Baytex Energy Corp shares, and 36.63% of them are in the hands of institutional investors. The stock currently has a share float of 36.94%. Baytex Energy Corp stock is held by 247 institutions, with Ninepoint Partners LP being the largest institutional investor. By Jun 29, 2023, it held 4.73% of the shares, which is about 40.0 million shares worth $130.4 million.

Vanguard Group Inc, with 2.87% or 24.25 million shares worth $79.05 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard International Stock Index-Total Intl Stock Indx and Vanguard Tax Managed Fund-Vanguard Developed Markets Index Fund were the top two Mutual Funds as of Jul 30, 2023. The former held 9.15 million shares worth $36.96 million, making up 1.08% of all outstanding shares. On the other hand, Vanguard Tax Managed Fund-Vanguard Developed Markets Index Fund held roughly 5.41 million shares worth around $17.62 million, which represents about 0.64% of the total shares outstanding.