Baytex Energy (NYSE:BTE) Stock

Baytex Energy

Baytex Energy Corp is an oil and gas company. Geographically, the group operates in Canada and the United States. The company derives a majority of revenue from Canada. Its Canada segment includes the exploration, development, and production of crude oil and natural gas in Western Canada.

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Applied Materials, Amcor, RLX Technology And Other Big Stocks Moving Lower In Friday&#39;s Pre-Market Session

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58 Stocks Moving In Wednesday&#39;s Mid-Day Session

Baytex Energy Corp

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Shares of oil and gas companies are trading lower amid a rise in US crude inventories.

Shares of several oil companies are trading higher following a drone attack on a Russian pipeline which could reduce supply.

&nbsp;Baytex Energy Corp.&nbsp;(TSX:<a class="ticker" href="https://www.benzinga.com/stock/BTE#TSX">BTE</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTE#NYSE">BTE</a>) ("Baytex") today announced that it has closed the sale of its Kerrobert thermal asset located in southwest Saskatchewan, for net proceeds of approximately $42 million. Production from the asset is approximately 2,000 bbl/d (100% heavy oil).
The non-core disposition further streamlines our portfolio and the net proceeds from the sale will be applied against outstanding bank indebtedness.
To reflect the disposition, we have updated our 2025 production guidance to 148,000 to 152,000 boe/d (150,000 to 154,000 boe/d, previously). The disposition is not expected to meaningfully impact our exploration and development expenditures or free cash flow profile for 2025.

Asset Sales

TSX:BTE

Baytex Announces Sale Of Kerrobert Thermal Asset Located In Southwest Saskatchewan, For Net Proceeds Of ~$42M; Updates 2025 Production Guidance From 150,000-154,000 To 148,000-152,000 boe/d

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Shares of oil and gas companies are lower ahead of OPEC's supply decision on Thursday. The commodity may be falling due to ongoing conflict in the Middle East.

The Board of Directors has approved a budget for 2025 exploration and development expenditures of C$1.2 to C$1.3 billion, which is designed to generate average annual production of 150,000 to 154,000 boe/d.&nbsp;

Baytex Sets 2025 Budget; Expects Majority Of Free Cash Flow To Be Generated In The Second Half Of The Year

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Shares of oil and gas companies are trading higher After Donald Trump wins the 2024 presidential election.

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Shares of oil and gas companies are trading higher following reports suggesting OPEC+ will delay output increases.

Baytex Energy shares are trading higher after the company reported better-than-expected Q3 sales results.

Baytex Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTE#NYSE">BTE</a>) reported quarterly earnings of $0.17 per share which missed the analyst consensus estimate of $0.23 by 26.09 percent. This is a 51.79 percent increase over earnings of $0.11 per share from the same period last year. The company reported quarterly sales of $787.72 million which beat the analyst consensus estimate of $765.15 million by 2.95 percent. This is a 9.14 percent decrease over sales of $866.94 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

Baytex Energy Q3 EPS $0.17 Misses $0.23 Estimate, Sales $787.72M Beat $765.15M Estimate

Canaccord Genuity analyst Mike Mueller maintains Baytex Energy (TSX:<a class="ticker" href="https://www.benzinga.com/stock/BTE#TSX">BTE</a>) with a Buy and lowers the price target from C$6.5 to C$6.

Price Target

Analyst Ratings

Canaccord Genuity Maintains Buy on Baytex Energy, Lowers Price Target to C$6

Raymond James analyst Luke Davis initiates coverage on Baytex Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTE#NYSE">BTE</a>) with a Market Perform rating and announces Price Target of $5.5.

Initiation

Raymond James Initiates Coverage On Baytex Energy with Market Perform Rating, Announces Price Target of $5.5

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Shares of energy companies are trading higher amid heightening Middle East tensions. A report suggests Iran is preparing to directly attack Israel, which could create shocks to the global economy.

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Shares of oil and gas companies are trading lower following reports suggesting an impending deal will restart Libyan oil production and exports.

U.S. stock futures were mixed this morning, with the S&amp;P 500 futures falling around 0.1% on Friday.
Shares of Applied Materials, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>) declined in today's pre-market trading <a href="https://www.benzinga.com/news/earnings/24/08/40406069/applied-materials-q3-earnings-revenue-beat-eps-beat-demand-being-driven-by-race-for-ai-leadership-a">following third-quarter results.</a>
Applied Materials reported third-quarter revenue of $6.78 billion, beating the consensus estimate of $6.673 billion. The chip equipment company reported adjusted earnings of $2.12 per share, beating analyst estimates of 2.02 per share.
Applied Materials anticipates fourth-quarter revenue of $6.53 billion, plus or minus $400 million, versus estimates of $6.91 billion. The company expects fourth-quarter adjusted earnings to be between $2 and $2.36 per share, versus estimates of $2.14 per share.
Applied Materials shares fell 3.1% to $205.25 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
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<li>Sonida Senior Living, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNDA#NYSE">SNDA</a>) shares dipped 15.4% to $27.06 in today's pre-market trading. Sonida Senior Living priced its upsized public offering of 4.3 million common stock at $27 per share.</li>
<li>Lumen Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUMN#NYSE">LUMN</a>) shares declined 6.1% to $5.36 in pre-market trading.</li>
<li>Baytex Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTE#NYSE">BTE</a>) shares fell 5.8% to $3.40 in pre-market trading.</li>
<li>U-BX Technology Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UBXG#NASDAQ">UBXG</a>) shares declined 4% to $19.00 in pre-market trading after jumping 45% on Thursday.</li>
<li>Pacific Biosciences of California, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PACB#NASDAQ">PACB</a>) fell 3.5% to $1.63 in pre-market trading after jumping 25% on Thursday.</li>
<li>Amcor plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMCR#NYSE">AMCR</a>) declined 3.1% to $10.51 in pre-market trading following fourth-quarter results.</li>
<li>RLX Technology Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLX#NYSE">RLX</a>) shares fell 2.5% to $1.58 in pre-market trading following weak quarterly sales.</li>
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40394036/jim-cramer-recommends-buying-clorox-ceo-has-done-remarkable-job">Jim Cramer Recommends Buying Clorox: &#8216;CEO Has Done Remarkable Job&#8217;</a></li>
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Applied Materials, Amcor, RLX Technology And Other Big Stocks Moving Lower In Friday's Pre-Market Session

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Shares of oil and gas stocks are trading lower despite Middle East tensions. Weak US economic data may be weighing on demand outlook.

Baytex Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTE#NYSE">BTE</a>) reported quarterly earnings of $0.10 per share which missed the analyst consensus estimate of $0.12 by 16.67 percent. This is a 62.96 percent decrease over earnings of $0.27 per share from the same period last year. The company reported quarterly sales of $828.26 million which beat the analyst consensus estimate of $751.50 million by 10.21 percent. This is a 85.82 percent increase over sales of $445.73 million the same period last year.

Baytex Energy Q2 EPS $0.10 Misses $0.12 Estimate, Sales $828.26M Beat $751.50M Estimate

The renewed NCIB allows Baytex to purchase up to 70.112 million common shares during the 12-month period commencing July 2, 2024 and ending July 1, 2025 or such earlier time as the NCIB is completed or terminated at the option of Baytex.

Baytex Says TSX Has Accepted Notice Of Intention To Renew Its Normal Course Issuer Bid

Shares of several oil and gas companies are trading higher amid a rise in the price of crude. Strength is due to potential demand and growing tension in the Middle East.

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Shares of several oil & gas companies are trading lower following an OPEC+ meeting in which members said they would start phasing out voluntary production cuts in October.

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Shares of oil and gas companies are trading higher amid a rise in the price of crude.

Press Releases

Baytex Conference Call and Webcast on Second Quarter 2024 Results to be held on July 26, 2024

Baytex Announces Quarterly Dividend for October 2024

Baytex Announces Second Quarter 2024 Results

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Investor One-on-One Meeting Requests Open for 29th Annual EnerCom Denver - The Energy Investment Conference, to be held August 18-21, 2024 in Denver, Colorado

EnerCom's 29th Annual Energy Investment Conference is Set to be Held August 18-21, 2024 in Denver, Colorado

Baytex Conference Call and Webcast on Third Quarter 2024 Results to Be Held on November 1, 2024

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