Baytex Energy Corp. (NYSE: BTE) stock jumped 0.87% on Tuesday to $3.46 against a previous-day closing price of $3.43. With 1.51 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.5 million shares. The 52-week range on BTE shows that it touched its highest point at $7.24 and its lowest point at $3.03 during that stretch. It currently has a 1-year price target of $5.64. Beta for the stock currently stands at 2.91.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BTE was up-trending over the past week, with a rise of 7.79%, but this was down by -11.73% over a month. Three-month performance dropped to -14.52% while six-month performance fell -32.29%. The stock lost -30.38% in the past year, while it has lost -23.28% so far this year. A look at the trailing 12-month EPS for BTE yields 1.52 with Next year EPS estimates of 1.28. For the next quarter, that number is 0.13. This implies an EPS growth rate of -46.20% for this year and 47.92% for next year. EPS is expected to grow by 18.20% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 139.80%.
Float and Shares Shorts:
At present, 545.06 million BTE shares are outstanding with a float of 541.73 million shares on hand for trading. On Apr 27, 2023, short shares totaled 34.44 million, which was 6.31% higher than short shares on Mar 30, 2023. In addition to Mr. Eric Thomas Greager as the firm’s Pres, CEO & Director, Mr. Chad L. Kalmakoff C.A. serves as its Exec. VP & CFO.
Through their ownership of 17.27% of BTE’s outstanding shares, institutional investors have minority control over the company. Other institutions hold — of BTE, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 4.95% stake in BTE, the Ninepoint Energy Fund is the largest stakeholder. A total of 27,000,000 shares are owned by the mutual fund manager. The Vanguard Total International Stoc, which owns about 1.33% of BTE stock, is the second-largest Mutual Fund holder. It holds 7,248,952 shares valued at 27.33 million. Vanguard Developed Markets Index holds 0.77% of the stake in BTE, owning 4,195,235 shares worth 15.82 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, BTE reported revenue of $854.17M and operating income of $338.58M. The EBITDA in the recently reported quarter was $477.57M and diluted EPS was $0.32.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BTE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BTE analysts setting a high price target of $7.63 and a low target of $4.09, the average target price over the next 12 months is $5.50. Based on these targets, BTE could surge 120.52% to reach the target high and rise by 18.21% to reach the target low. Reaching the average price target will result in a growth of 58.96% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.