Baytex Energy Corp (NYSE:BTE) shares, rose in value on Thursday, April 04, with the stock price down by -0.10% to the previous day’s close as strong demand from buyers drove the stock to $3.99.
Actively observing the price movement in the recent trading, the stock is buoying the session at $3.99. The value of beta (5-year monthly) is 2.78. Referring to stock’s 52-week performance, its high was $4.65, and the low was $2.89. On the whole, BTE has fluctuated by 29.42% over the past month.
With the market capitalization of Baytex Energy Corp currently standing at about $3.28 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 09, 2024. The company’s Forward Dividend Ratio is 0.05, with its dividend yield at 1.25%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.06, which is expected to increase to $0.15 for fiscal year $0.49 and then to about $0.44 by fiscal year 2025. Data indicates that the EPS growth is expected to be 304.20% in 2025, while the next year’s EPS growth is forecast to be -10.20%.
Analysts have estimated the company’s revenue for the quarter at $661.82 million, with a low estimate of $661.82 million and a high estimate of $661.82 million. According to the average forecast, sales growth in current quarter could jump up 57.30%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $1.78 billion, representing a decrease of -10.80% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that BTE’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of BTE currently trading nearly 15.59% and 20.70% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 74.99, while the 7-day volatility ratio is showing 3.67% which for the 30-day chart, stands at 3.48%. Furthermore, Baytex Energy Corp (BTE)’s beta value is 1.86, and its average true range (ATR) is 0.13.
A comparison of Baytex Energy Corp (BTE) with its peers suggests the former has fared considerably weaker in the market. BTE showed an intraday change of -0.10% in today’s session so far, and over the past year, it shrunk by -1.09%%.
Data on historical trading for Baytex Energy Corp (NYSE:BTE) indicates that the trading volumes over the past 10 days have averaged 10.36 million and over the past 3 months, they’ve averaged 9.01 million. According to company’s latest data on outstanding shares, there are 821.68 million shares outstanding.
Nearly 12.97% of Baytex Energy Corp’s shares belong to company insiders and institutional investors own 24.58% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 14.49 million shares as on Mar 15, 2024, resulting in a short ratio of 1.93. According to the data, the short interest in Baytex Energy Corp (BTE) stood at 1.76% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 18.53 million. The stock has risen by 20.06% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BTE stock heading into the next quarter.
