Gains May Be On The Menu For Baytex Energy Corp. (NYSE: BTE)

With over 4.22 million Baytex Energy Corp. (BTE) shares trading Friday and a closing price of $3.63 on the day, the dollar volume was approximately $15.3 million. The shares have shown a negative half year performance of -21.94% and its price on 03/10/23 lost nearly -3.20%. Currently, there are 546.15M common shares owned by the public and among those 541.73M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 10 analysts who have offered their price forecasts for BTE have a consensus price objective of $5.75. The analysts have set the share’s price value over the next 12 months at a high of $7.53 and a low of $4.04. The average price target is 34.59% above its recent price level and an upside to the estimated low will see the stock gain 10.15% over that period. But an upside of 51.79% will see the stock hit the forecast high price target while median target price for the stock is $5.70.

The top 3 mutual fund holders in Baytex Energy Corp. are Ninepoint Energy Fund, Vanguard Total International Stoc, and Vanguard Developed Markets Index. Ninepoint Energy Fund owns 27.0 million shares of the company’s stock, all valued at over $104.49 million. The company bought an additional 3.0 million shares recently to bring their total holdings to about 4.96% of the shares outstanding. Vanguard Total International Stoc sold -0.15 million shares to see its total holdings shrink to 7.25 million shares valued at over $28.05 million and representing 1.33% of the shares outstanding. Vanguard Developed Markets Index sold 7428.0 shares to bring its total holdings to over 4.17 million shares at a value of $16.14 million. Vanguard Developed Markets Index now owns shares totaling to 0.77% of the shares outstanding.

However, the script later moved the day high at 3.8000, down -3.20%. The company’s stock has a 5-day price change of -12.53% and -18.79% over the past three months. BTE shares are trading -19.51% year to date (YTD), with the 12-month market performance down to -23.66% lower. It has a 12-month low price of $3.73 and touched a high of $7.24 over the same period. BTE has an average intraday trading volume of 856.71K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -13.30%, -16.01%, and -25.13% respectively.

Institutional ownership of Baytex Energy Corp. (NYSE: BTE) shares accounts for 16.57% of the company’s 546.15M shares outstanding. Mutual fund holders own –, while other institutional holders and individual stakeholders account for — and — respectively.

It has a market capitalization of $2.83B and a beta (3y monthly) value of 2.92. The stock’s trailing 12-month PE ratio is 2.37, while the earnings-per-share (ttm) stands at $1.53. The company has a PEG of 0.13 and a Quick Ratio of 0.80 with the debt-to-equity ratio at 0.31. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.38% over the week and 4.67% over the month.

Earnings per share for the fiscal year are expected to decrease by -46.20%, and 43.40% over the next financial year. EPS should shrink at an annualized rate of 18.20% over the next five years, compared to 139.80% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate Baytex Energy Corp. (BTE) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 7 of the 10 advise that investors “hold,” and 0 rated it as a “Sell.”