Baytex Energy Corp. (NYSE:BTE ) Q2 2024 Earnings Conference Call July 26, 2024 11:00 AM ET Company Participants Brian Ector - SVP, Capital Markets and IR Eric Greager - President and CEO Chad Kalmakoff - CFO Chad Lundberg - COO Conference Call Participants Greg Pardy - RBC Capital Markets Jeremy McCrea - BMO Capital Markets Amir Arif - ATB Capital Operator Thank you for standing by. This is the conference operator.
If you are looking for stocks that have gained strong momentum recently but are still trading at reasonable prices, Baytex (BTE) could be a great choice. It is one of the several stocks that passed through our 'Fast-Paced Momentum at a Bargain' screen.
FISI, BTE, HSTM, WDC and VIRC have been added to the Zacks Rank #1 (Strong Buy) List on July 26, 2024.
VIRC, GFF and BTE made it to the Zacks Rank #1 (Strong Buy) value stocks list on July 26, 2024.
HSTM, WDC and BTE made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on July 26, 2024.
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.