BTE Stock Forecast, Price & News (Baytex Energy)


Baytex Energy Corp., an oil and gas company, acquires, develops and produces oil and natural gas in the Western Canadian Sedimentary Basin and Texas, United States. The Company offers light oil and condensate, heavy oil, natural gas liquids and natural gas. Its principal oil and gas properties include Eagle Ford property in Texas, Viking and Lloydminster properties in Alberta and Saskatchewan, Peace River and Duvernay properties in Alberta. The Company’s properties also include conventional oil and natural gas assets in Western Canada. As of December 31, 2021, it had proven developed production reserves of 129 million barrels of oil equivalent (mmboe); proven reserves of 278 mmboe; and proven and probable reserves of 451 mmboe. Baytex Energy Corp. was founded in 1993 and is headquartered in Calgary, Canada.

Baytex Energy trades up 2.0%

Shares of TSE:BTE traded at C$0.13 midday Friday, hitting C$6.55. 7,180,943 shares of the company were traded, against an average volume of 7,139,261. Baytex Energy has a 12-month low of C$1.87 and a 12-month high of C$9.16. The company has a debt ratio of 46.97, a quick ratio of 0.59 and a current ratio of 0.62. The stock has a 50-day moving average price of C$6.63 and a 200-day moving average price of C$6.16. The company has a market capitalization of C$3.67 billion and a P/E ratio of 4.43.

Baytex Energy (TSE:BTE – Get Rating) (NYSE:BTE) last reported quarterly results on Wednesday, July 27. The company reported earnings per share (EPS) of C$0.32 for the quarter, beating the consensus estimate of C$0.28 by C$0.04. The company had revenue of C$854.17 million for the quarter. As a group, analysts expect Baytex Energy to post 1.47 earnings per share for the current year.

Analyst upgrades and downgrades

Several analysts weighed in on BTE shares. BMO Capital Markets raised its price target on Baytex Energy shares from C$8.00 to C$8.50 in a Friday, April 29 research note. Scotiabank raised its price target on shares of Baytex Energy from C$6.75 to C$9.00 in a Wednesday, June 8 research note. TD Securities raised its price target on shares of Baytex Energy from C$6.50 to C$7.50 and gave the stock a “holding” rating in a Friday, April 29 research note. Standpoint Research lowered its price target on Baytex Energy shares from C$9.00 to C$8.57 in a Thursday, July 28 research note. Finally, Raymond James raised his price target on Baytex Energy shares from CA$9.00 to CA$9.50 and gave the stock an “outperform” rating in a Tuesday, July 5 research note. . Two investment analysts gave the stock a hold rating and three gave the company a buy rating. According to data from MarketBeat.com, the company has an average rating of “moderate buy” and a consensus target price of C$8.18.

Insiders place their bets

In other Baytex Energy news, Director Mark Bly acquired 12,000 shares of the company in a transaction on Thursday, June 23. The shares were acquired at an average price of CA$5.59 per share, for a total transaction of CA$67,080.00. Following the completion of the acquisition, the administrator now owns 421,544 shares of the company, valued at C$2,356,430.96. In other Baytex Energy news, senior officer Rodney Gray acquired 20,000 shares of the company in a transaction on Thursday, June 23. The shares were acquired at an average price of CA$5.69 per share, for a total transaction of CA$113,700.00. Following the completion of the acquisition, the insider now owns 934,024 shares of the company, valued at C$5,309,926.44. Additionally, director Mark Bly acquired 12,000 shares of the company in a transaction on Thursday, June 23. The stock was acquired at an average price of CA$5.59 per share, for a total transaction of CA$67,080.00. Following the acquisition, the administrator now owns 421,544 shares of the company, valued at approximately C$2,356,430.96.

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