Baytex Energy Corp (BTE) Posts Quarterly Earnings Results, Beats Estimates By $0.14 EPS
Baytex Energy Corp (NYSE:BTE) announced its earnings results on Wednesday. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.14, AnalystRatingsNetwork.com reports.
Baytex Energy Corp (NYSE:BTE) traded up 0.27% on Wednesday, hitting $41.29. The stock had a trading volume of 85,330 shares. Baytex Energy Corp has a 52 week low of $34.71 and a 52 week high of $51.74. The stock has a 50-day moving average of $40.2 and a 200-day moving average of $39.75. The company has a market cap of $5.124 billion and a P/E ratio of 48.16.
The company also recently announced a monthly dividend, which is scheduled for Friday, November 15th. Investors of record on Thursday, October 31st will be paid a dividend of $0.21 per share. This represents a $2.54 annualized dividend and a dividend yield of 6.17%. The ex-dividend date is Tuesday, October 29th.
BTE has been the subject of a number of recent research reports. Analysts at RBC Capital reiterated an “outperform” rating on shares of Baytex Energy Corp in a research note to investors on Monday. They now have a $51.00 price target on the stock. On a related note, analysts at Barclays downgraded shares of Baytex Energy Corp from an “overweight” rating to an “equal weight” rating in a research note to investors on Tuesday, October 22nd. They now have a $46.00 price target on the stock, down previously from $48.00. Finally, analysts at Zacks upgraded shares of Baytex Energy Corp from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, October 15th. They now have a $43.60 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $48.09.
Baytex Energy Corp. (NYSE:BTE), through its subsidiaries, are engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (in the provinces of British Columbia, Alberta and Saskatchewan) and in the United States (in the states of North Dakota and Wyoming).
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