During the last session, Baytex Energy Corp (NYSE:BTE)’s traded shares were 11.91 million, with the beta value of the company hitting 1.86. At the end of the trading day, the stock’s price was $4.03, reflecting an intraday gain of 1.00% or $0.04. The 52-week high for the BTE share is $4.65, that puts it down -15.38 from that peak though still a striking 28.29% gain since the share price plummeted to a 52-week low of $2.89. The company’s market capitalization is $3.31B, and the average intraday trading volume over the past 10 days was 10.36 million shares, and the average trade volume was 9.01 million shares over the past three months.
Baytex Energy Corp (NYSE:BTE) trade information
Baytex Energy Corp (BTE) registered a 1.00% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.00% in intraday trading to $4.03, hitting a weekly high. The stock’s 5-day price performance is 15.14%, and it has moved by 30.84% in 30 days. Based on these gigs, the overall price performance for the year is 0.00%. The short interest in Baytex Energy Corp (NYSE:BTE) is 14.49 million shares and it means that shorts have 1.93 day(s) to cover.
Baytex Energy Corp (BTE) estimates and forecasts
Statistics show that Baytex Energy Corp has outperformed its competitors in share price, compared to the industry in which it operates. Baytex Energy Corp (BTE) shares have gone down -2.18% during the last six months, with a year-to-date growth rate more than the industry average at 4.08% against -6.90. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -14.30% this quarter and then drop -44.40% in the quarter after that. In the rating firms’ projections, revenue will decrease -10.80% compared to the previous financial year.
Revenue for the current quarter is expected to be $661.82 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $701.33 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $420.67 million and $441.06 million respectively. In this case, analysts expect current quarter sales to grow by 57.30% and then jump by 59.00% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 19.24%. While earnings are projected to return 306.95% in 2024, the next five years will return 18.20% per annum.
BTE Dividends
Baytex Energy Corp is due to release its next quarterly earnings on May 09. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Baytex Energy Corp is 0.05, with the dividend yield indicating at 1.24 percent, continuing the trend of increasing dividends in recent years.
Baytex Energy Corp (NYSE:BTE)’s Major holders
Baytex Energy Corp insiders own 0.73% of total outstanding shares while institutional holders control 36.96%, with the float percentage being 37.23%. Ninepoint Partners LP is the largest shareholder of the company, while 245 institutions own stock in it. As of Jun 29, 2023, the company held over 40.0 million shares (or 4.73% of all shares), a total value of $130.4 million in shares.
The next largest institutional holding, with 24.25 million shares, is of Vanguard Group Inc’s that is approximately 2.87% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $79.05 million.
Also, the Mutual Funds coming in first place with the largest holdings of Baytex Energy Corp (BTE) shares are Vanguard International Stock Index-Total Intl Stock Indx and Vanguard Tax Managed Fund-Vanguard Developed Markets Index Fund. Data provided on Jul 30, 2023 indicates that Vanguard International Stock Index-Total Intl Stock Indx owns about 9.15 million shares. This amounts to just over 1.08 percent of the company’s overall shares, with a $36.96 million market value. The same data shows that the other fund manager holds slightly less at 5.41 million, or about 0.64% of the stock, which is worth about $17.62 million.
