Baytex Energy Corp (NYSE:BTE) price on current trading day, fall -0.29% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $3.47.
A look at the stock’s price movement, the level at last check in today’s session was $3.48, moving within a range at $3.45 and $3.49. The beta value (5-Year monthly) was 2.667. Turning to its 52-week performance, $4.65 and $2.92 were the 52-week high and 52-week low respectively. Overall, BTE moved -3.34% over the past month.
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Baytex Energy Corp’s market cap currently stands at around $2.79 billion, with investors looking forward to this quarter’s earnings report slated for in September. The company has a Forward Dividend ratio of 0.07, with its dividend yield at 1.91%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 781.7M for the company’s revenue for the quarter, with a low and high estimate of 781.7M and 781.7M respectively. The average forecast suggests down to a -9.80% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 2.87B, representing a 44.20% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that BTE is a 50% Sell. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in 25% Sell category.
2 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 1 recommend BTE as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
BTE’s current price about 0.49% and -0.58% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 48.81, while 7-day volatility ratio is 2.84% and 4.39% in the 30-day chart. Further, Baytex Energy Corp (BTE) has a beta value of 1.75, and an average true range (ATR) of 0.13.
If we refocus on Baytex Energy Corp (NYSE:BTE), historical trading data shows that trading volumes averaged 8.56 over the past 10 days and 10.01 million over the past 3 months. The company’s latest data on shares outstanding shows there are 821.68 million shares.
The 13.50% of Baytex Energy Corp’s shares are in the hands of company insiders while institutional holders own 26.33% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 34.19 million on 2024-07-31, giving us a short ratio of 2.68. Current price change has pushed the stock 4.52% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the BTE stock continues to rise going into the next quarter.
