Is Baytex Energy Corp (BTE) a good stock to buy now?

Baytex Energy Corp (NYSE: BTE) is -6.93% lower on its value in year-to-date trading and has touched a low of $2.89 and a high of $4.65 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The BTE stock was last observed hovering at around $3.10 in the last trading session, with the day’s loss setting it -0.01%.

Currently trading at $3.09, the stock is -0.06% and -5.27% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.04 million and changing -0.32% at the moment leaves the stock -15.79% off its SMA200. BTE registered -31.79% loss for a year compared to 6-month loss of -24.08%. The firm has a 50-day simple moving average (SMA 50) of $1.55 and a 200-day simple moving average (SMA200) of $2.83.

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The stock witnessed a -1.90% gain in the last 1 month and extending the period to 3 months gives it a -19.53%, and is 3.00% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.71% over the week and 3.22% over the month.

Baytex Energy Corp (BTE) has around Dec 14 2023 employees, a market worth around $2.61B and $1.78B in sales. Current P/E ratio is 3.35 and Fwd P/E is 5.09. Profit margin for the company is 30.95%. Distance from 52-week low is 6.92% and -33.55% from its 52-week high. The company has generated returns on investments over the last 12 months (10.11%).

Baytex Energy Corp quarterly earnings per share for the current quarter are estimated at $0.12 with sales reaching $757.38M over the same period.The EPS is expected to shrink by -52.32% this year, but quarterly earnings will post 44.10% year-over-year. Quarterly sales are estimated to grow 96.20% in year-over-year returns.

Baytex Energy Corp (BTE) Top Institutional Holders

258 institutions hold shares in Baytex Energy Corp (BTE), with institutional investors hold 31.15% of the company’s shares. The shares outstanding are 845.40M, and float is at 735.94M with Short Float at 2.69%. Institutions hold 27.04% of the Float.

The top institutional shareholder in the company is Ninepoint Partners LP with over 40.0 million shares valued at $130.4 million. The investor’s holdings represent 4.73% of the BTE Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 24.25 million shares valued at $79.05 million to account for 2.87% of the shares outstanding. The other top investors are Jane Street Group, LLC which holds 8.21 million shares representing 0.97% and valued at over $26.77 million, while SIR Capital Management, L.P. holds 0.87% of the shares totaling 7.37 million with a market value of $24.03 million.

Baytex Energy Corp (BTE): Who are the competitors?

The company’s main competitors (and peers) include Enerplus Corp. (ERF) that is trading -11.14% down over the past 12 months. Crescent Point Energy Corp. (CPG) that is -14.80% lower over the same period.