Baytex Energy Corp (NYSE:BTE) traded at $4.02 at close of the session on Friday, April 05, made a downward move of -0.25% on its previous day’s price.
Looking at the stock we see that its previous close was $4.03 and the beta (5Y monthly) reads 2.80 . In terms of its 52-week price range, BTE has a high of $4.65 and a low of $2.89. The company’s stock has gained about 26.02% over that past 30 days.
Baytex Energy Corp has a market cap of $3.30 billion and is expected to release its quarterly earnings report on May 09, 2024. With its Forward Dividend at 0.05 and a yield of 1.25%, the company’s investors could be anxious for the BTE stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $0.06, with the EPS growth for the year raised at $0.49 for 2024 and $0.44 for next year. These figures represent 304.20% and -10.20% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $660.49 million, with a low of $660.49 million and a high of $660.49 million. The median projection represents growth squeezing down to 57.00% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2024 is expected to hit $1.78 billion, or -10.80% down from figures reported last year.
There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the BTE stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of 50% Buy.
Looking further, we note the current price level is 15.17% off its SMA20 and 21.03% from its 50-day simple moving average. The RSI (14) is pointing at 75.45 while the volatility over the past week is 3.38% and jumps to 3.32% over the past one month. The beta value is 1.84, while the average true range (ATR) is currently pointing at 0.13.
Coming back to Baytex Energy Corp (NYSE:BTE), we note that the average 3-month trading volume was 9.07 million, while that of the preceding 10-day period stands at 10.71 million. Current shares outstanding are 821.68 million.
The insiders hold 12.97% of the company’s shares while institutions hold 24.51%. The data shows that short shares as of Mar 15, 2024, stood at 14.49 million at a short ratio of 1.93. This represents a 1.76% short interest in shares outstanding on Mar 15, 2024. Shares short fall in March from the previous month at 18.53 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 21.08% up in year-to-date price movement.
