As of Thursday close, Baytex Energy Corp.’s (NYSE:BTE) stock was up $0.02, moving up 0.51 percent to $3.91. The average number of shares traded per day over the past five days has been 3,915,020 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.16 fall in that time frame. In the last twenty days, the average volume was 4,993,585, while in the previous 50 days, it was 6,469,144.
Since last month, BTE stock rose 9.83%. Shares of the company fell to $3.37 on 07/18/23, the lowest level in the past month. A 52-week high of $6.02 was reached on 01/27/23 after having rallying from a 52-week low of $2.89. Since the beginning of this year, BTE’s stock price has dropped by -13.30% or -$0.60, and marked a new high 4 times. However, the stock has declined by -35.05% since its 52-week high.
Valuation Metrics
Right now, Baytex Energy Corp. (BTE) has a P/E ratio of about 2.49. The stock’s beta is 2.07. Besides these, the trailing price-to-sales (P/S) ratio of 2.18, the price-to-book (PB) ratio of 0.50, and the price-to-cash flow ratio of 14.24 may also be considered.
The latest dividend of $0.0170 per share was paid out, which is -77.6% less than last year’s $0.0759. On Thursday July 27 2023, a $0.0589 dividend decrease was announced.
Financial Health
In the three months ended June 29, Baytex Energy Corp.’s quick ratio stood at 0.60, while its current ratio was 0.60, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.55, and the total debt-to-equity ratio was 0.56. On the profitability front, the trailing twelve-month gross margin is 78.20% percent. In the year ended June 29, EBITDA margin amounted to 66.89%, whereas operating margins totaled 37.90%. Based on annual data, BTE earned $951.14 million in gross profit and brought in $1.79 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 29.90%. Return on equity (ROE) for the past 12 months was 26.30%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. While analysts expected Baytex Energy Corp. to report $0.09 quarterly earnings, the actual figure was $0.27 per share. During the quarter, the company generated $178.14 million in EBITDA. The liabilities of Baytex Energy Corp. were 2.99 billion at the end of its most recent quarter ended June 29, and its total debt was $2.56 billion.
Technical Picture
This quick technical analysis looks at Baytex Energy Corp.’s (BTE) price momentum. With a historical volatility rate of 29.22%, the RSI 9-day stood at 48.39% on 17 August.
With respect to its five-day moving average, the current Baytex Energy Corp. price is down by -3.93% percent or -$0.16. At present, BTE shares trade +9.83% above its 20-day simple moving average and +16.02% percent above its 100-day simple moving average. However, the stock is currently trading approximately +13.01% above its SMA50 and -25.48% below its SMA200.
Stochastic coefficient K was 33.37% and Stochastic coefficient D was 51.32%, while ATR was 0.14. Given the Stochastic reading of 16.22% for the 14-day period, the RSI (14) reading has been calculated as 54.26%. As of today, the MACD Oscillator reading stands at -0.12, while the 14-day reading stands at -0.12.
Analyst Ratings
Canaccord Genuity launched its rating on Baytex Energy Corp. (NYSE: BTE) to a Buy in a note to investors on July 21, 2023. Baytex Energy Corp. (BTE) has been rated Overweight by analysts. According to 0 brokerage firms, BTE is a sell, and 6 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Baytex Energy Corp. stock as buy, with 6 recommending it as overweight.
With a median target price of $5.22, the current consensus forecast for the stock is $3.88 – $6.42. Based on these forecasts, analysts predict Baytex Energy Corp. (BTE) will achieve an average price target of $5.20.
