BTE Stock Summary and Trading Ideas (Baytex Energy Common Shares | NYSE:BTE)

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.

Baytex Energy Common Shares trades on the NYSE stock market under the symbol BTE.

As of April 23, 2024, BTE stock price climbed to $3.80 with 9,422,049 million shares trading.

BTE has a beta of 0.59, meaning it tends to be less sensitive to market movements. BTE has a correlation of 0.03 to the broad based SPY ETF.

BTE has a market cap of $3.28 billion. This is considered a Mid Cap stock.

Last quarter Baytex Energy Common Shares reported $783 million in Revenue and $.18 earnings per share. This beat revenue expectation by $27 million and exceeded earnings estimates by $.06.

The top ETF exchange traded funds that BTE belongs to (by Net Assets): PDN, IGE, OILT, FILL.

BTE has underperformed the market in the last year with a price return of +2.9% while the SPY ETF gained +24.3%. However, in the short term, BTE had mixed performance relative to the market. It has outperformed in the last 3 months, returning +26.0% vs +4.9% return in SPY. But in the last 2 weeks, BTE shares have been beat by the market, returning -2.6% compared to an SPY return of -2.5%.

BTE support price is $3.55 and resistance is $3.75 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BTE stock will trade within this expected range on the day.