Baytex Energy Corp (NYSE:BTE) price on Thursday, November 14, rose 3.47% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $2.98.
A look at the stock’s price movement, the close in the last trading session was $2.88, moving within a range at $2.9 and $3.0. The beta value (5-Year monthly) was 2.572. Turning to its 52-week performance, $4.08 and $2.78 were the 52-week high and 52-week low respectively. Overall, BTE moved 2.41% over the past month.
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Baytex Energy Corp’s market cap currently stands at around $3.28 billion, with investors looking forward to this quarter’s earnings report slated for in December. The company has a Forward Dividend ratio of 0.07, with its dividend yield at 2.22%. 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 1.01B for the company’s revenue for the quarter, with a low and high estimate of 1.01B and 1.01B respectively. The average forecast suggests down to a -5.13% 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 3.84B, representing a 13.66% 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 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% 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 1.22% and -1.82% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 48.91, while 7-day volatility ratio is 3.78% and 3.26% in the 30-day chart. Further, Baytex Energy Corp (BTE) has a beta value of 1.75, and an average true range (ATR) of 0.11.
If we refocus on Baytex Energy Corp (NYSE:BTE), historical trading data shows that trading volumes averaged 12.3 over the past 10 days and 11.34 million over the past 3 months. The company’s latest data on shares outstanding shows there are 821.68 million shares.
The 13.38% of Baytex Energy Corp’s shares are in the hands of company insiders while institutional holders own 26.53% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 58.67 million on 2024-10-31, giving us a short ratio of 4.04. Current price change has pushed the stock -10.24% 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.
