FISI, BTE and HMC made it to the Zacks Rank #1 (Strong Buy) income stocks list on July 26, 2024.
Baytex Energy (BTE) came out with quarterly earnings of $0.09 per share, missing the Zacks Consensus Estimate of $0.12 per share. This compares to earnings of $0.27 per share a year ago.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
You get what you pay for and that applies to the equities sector as well. Sure, you can always filter for ideas that are cheap in price.
One of the investment sectors in which it's difficult to address the “why” component is the hydrocarbon ecosystem. With the political and ideological winds favoring clean and renewable energy infrastructures, why would anyone consider fossil fuels, even if they were billed as discounted oil stocks?
Acquisition of oil light production allowed Baytex Energy to safely increase Clearwater heavy oil production without risking the company. Management may have an opportunity to achieve a faster Clearwater payback. Management is likely to make the acquired Eagle Ford operation more efficient. This production needs to show a decent profit as well.