Baytex Energy Corp (NYSE: BTE) 52-Week High Located At $4.65, Forget The Dips, Just Ride The Rips

Baytex Energy Corp (NYSE:BTE) does about 9.34M shares in volume on a normal day but saw 7071537 shares change hands in Monday trading. The company now has a market cap of 2.88B USD. Its current market price is $3.56, marking an increase of 0.28% compared to the previous close of $3.55. The 52 week high reached by this stock is $4.65 whilst the lowest price level in 52 weeks is $2.92.

Baytex Energy Corp (BTE) has a 20-day trading average at $3.40 and the current price is -23.44% off the 52-week high compared with 21.92% distance from its 52-week low. The 50-day simple moving average of the closing price is $3.50 and its 200-day simple moving average is $3.59. If we look at the stock’s price movements over the week, volatility stands at 2.69%, which increases to 3.08% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 56.35 to suggest the stock is neutral.

The consensus objective for the share price is $4.77, suggesting that the stock has a potential upside of 25.37% over the period.

Baytex Energy Corp (BTE) stock is up 2.30% over the week and 6.59% over the past month. Its price is 7.23% year-to-date and 13.38% over the past year.

The stock last released its quarterly earnings report for quarter ended 3/31/2024, with the company’s earnings per share (EPS) of 0.27 above consensus estimates by 0.18. The company’s next earnings report forecasts estimating quarterly EPS at 0.07 and 0.27 for whole year. Expected sales for next quarter are $706.89M, which analysts say will come at $2.81B for the current fiscal year and next year at $2.93B. In addition, estimates put the company’s current quarterly revenue at an average of $686.48M.

To reach the target analysts have set, the stock logically needs to grow 25.37 percent from here.

Outstanding shares total 821.68M with insiders holding 0.81% of the shares and institutional holders owning 39.06% of the company’s common stock. The company has a return on investment of -4.60% and return on equity of -8.36%. The forward price to earnings ratio is 8.85. The beta has a value of 1.78. Price to book ratio is 1.01 and price to sales ratio is 1.28.