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Baytex Energy

DB:B5X
Snowflake Description

Reasonable growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
B5X
DB
CA$1B
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. The last earnings update was 83 days ago. More info.


Add to Portfolio Compare Print
  • Baytex Energy has significant price volatility in the past 3 months.
B5X Share Price and Events
7 Day Returns
-0.3%
DB:B5X
-3.6%
DE Oil and Gas
-0.9%
DE Market
1 Year Returns
-54%
DB:B5X
24.6%
DE Oil and Gas
-7.4%
DE Market
B5X Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Baytex Energy (B5X) -0.3% -8.9% -33.1% -54% -70.3% -96.2%
DE Oil and Gas -3.6% 1.3% 6.6% 24.6% 22.6% 76.4%
DE Market -0.9% -0.4% -3.7% -7.4% 8.1% 12%
1 Year Return vs Industry and Market
  • B5X underperformed the Oil and Gas industry which returned 24.6% over the past year.
  • B5X underperformed the Market in Germany which returned -7.4% over the past year.
Price Volatility
B5X
Industry
5yr Volatility vs Market

Value

 Is Baytex Energy undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Baytex Energy to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Baytex Energy.

DB:B5X Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.3%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:B5X
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.921 (1 + (1- 26.5%) (199.67%))
1.853
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.85
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.853 * 5.96%)
11.27%

Discounted Cash Flow Calculation for DB:B5X using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Baytex Energy is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:B5X DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 11.27%)
2020 262.67 Analyst x3 236.05
2021 368.00 Analyst x1 297.21
2022 454.36 Est @ 23.47% 329.78
2023 529.30 Est @ 16.5% 345.25
2024 590.78 Est @ 11.61% 346.31
2025 639.22 Est @ 8.2% 336.74
2026 676.34 Est @ 5.81% 320.20
2027 704.30 Est @ 4.13% 299.65
2028 725.16 Est @ 2.96% 277.27
2029 740.69 Est @ 2.14% 254.51
Present value of next 10 years cash flows CA$3,042.97
DB:B5X DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$740.69 × (1 + 0.23%) ÷ (11.27% – 0.23%)
CA$6,720.96
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$6,720.96 ÷ (1 + 11.27%)10
CA$2,309.43
DB:B5X Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$3,042.97 + CA$2,309.43
CA$5,352.39
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$5,352.39 / 556.72
CA$9.61
DB:B5X Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:B5X represents 0.64601x of TSX:BTE
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.64601x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (CAD) x Listing Adjustment Factor
= CA$ 9.61 x 0.64601
€6.21
Value per share (EUR) From above. €6.21
Current discount Discount to share price of €1.25
= -1 x (€1.25 - €6.21) / €6.21
79.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Baytex Energy is available for.
Intrinsic value
>50%
Share price is €1.25 vs Future cash flow value of €6.21
Current Discount Checks
For Baytex Energy to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Baytex Energy's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Baytex Energy's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Baytex Energy's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Baytex Energy's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:B5X PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CAD CA$-0.58
TSX:BTE Share Price ** TSX (2019-07-22) in CAD CA$1.93
Germany Oil and Gas Industry PE Ratio Median Figure of 5 Publicly-Listed Oil and Gas Companies 8.74x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.71x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Baytex Energy.

DB:B5X PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:BTE Share Price ÷ EPS (both in CAD)

= 1.93 ÷ -0.58

-3.31x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Baytex Energy is loss making, we can't compare its value to the DE Oil and Gas industry average.
  • Baytex Energy is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Baytex Energy's expected growth come at a high price?
Raw Data
DB:B5X PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -3.31x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
76.6%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 56 Publicly-Listed Oil and Gas Companies 0.84x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.43x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Baytex Energy, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Baytex Energy's assets?
Raw Data
DB:B5X PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CAD CA$5.44
TSX:BTE Share Price * TSX (2019-07-22) in CAD CA$1.93
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 1.29x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.72x
DB:B5X PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:BTE Share Price ÷ Book Value per Share (both in CAD)

= 1.93 ÷ 5.44

0.35x

* Primary Listing of Baytex Energy.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Baytex Energy is good value based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess Baytex Energy's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Baytex Energy has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Baytex Energy expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
76.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Baytex Energy expected to grow at an attractive rate?
  • Baytex Energy's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Baytex Energy's earnings growth is expected to exceed the Germany market average.
  • Baytex Energy's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:B5X Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:B5X Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 76.6%
DB:B5X Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 13.2%
Germany Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average -8.9%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 2.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:B5X Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:B5X Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 877
2021-12-31 2,055 947 196 1
2020-12-31 1,746 819 99 2
2019-12-31 1,736 863 99 2
DB:B5X Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,266 555 -251
2018-12-31 1,115 485 -325
2018-09-30 1,062 413 -18
2018-06-30 920 336 -55
2018-03-31 876 332 13
2017-12-31 858 325 87
2017-09-30 802 268 -348
2017-06-30 751 279 -378
2017-03-31 686 264 -475
2016-12-31 602 247 -485
2016-09-30 605 283 -545
2016-06-30 661 343 -1,025

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Baytex Energy's earnings are expected to grow significantly at over 20% yearly.
  • Baytex Energy's revenue is expected to grow by 13.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:B5X Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Baytex Energy Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:B5X Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 0.26 0.35 0.16 2.00
2020-12-31 0.17 0.21 0.12 4.00
2019-12-31 0.19 0.29 0.12 5.00
DB:B5X Past Financials Data
Date (Data in CAD Millions) EPS *
2019-03-31 -0.58
2018-12-31 -0.93
2018-09-30 -0.07
2018-06-30 -0.23
2018-03-31 0.06
2017-12-31 0.37
2017-09-30 -1.51
2017-06-30 -1.69
2017-03-31 -2.18
2016-12-31 -2.29
2016-09-30 -2.58
2016-06-30 -4.88

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Baytex Energy is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Baytex Energy's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Baytex Energy has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Baytex Energy performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Baytex Energy's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Baytex Energy does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Baytex Energy's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Baytex Energy's 1-year growth to the Europe Oil and Gas industry average as it is not currently profitable.
Earnings and Revenue History
Baytex Energy's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Baytex Energy Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:B5X Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,265.99 -251.25 70.42
2018-12-31 1,115.12 -325.31 65.36
2018-09-30 1,061.75 -18.03 59.35
2018-06-30 920.38 -54.67 55.56
2018-03-31 875.83 13.36 60.69
2017-12-31 857.98 87.17 62.90
2017-09-30 801.84 -348.29 62.99
2017-06-30 750.51 -378.49 66.71
2017-03-31 686.34 -474.70 63.27
2016-12-31 601.98 -485.18 64.75
2016-09-30 604.51 -544.94 67.02
2016-06-30 660.77 -1,024.75 68.32
2016-03-31 772.34 -966.36 77.53
2015-12-31 880.00 -1,142.88 83.98
2015-09-30 1,071.32 -1,085.52 90.51
2015-06-30 1,346.44 -421.91 95.56
2015-03-31 1,445.65 -356.56 92.73
2014-12-31 1,529.90 -132.81 87.42
2014-09-30 1,427.89 260.18 83.14
2014-06-30 1,283.79 203.14 79.07
2014-03-31 1,198.67 202.54 76.96
2013-12-31 1,115.41 164.85 77.80
2013-09-30 1,090.40 165.29 71.23
2013-06-30 1,003.03 104.73 80.83
2013-03-31 962.26 225.82 81.42
2012-12-31 1,024.95 258.63 81.33
2012-09-30 1,086.88 284.79 82.50

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Baytex Energy has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Baytex Energy has efficiently used its assets last year compared to the DE Oil and Gas industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Baytex Energy improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Baytex Energy's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Baytex Energy has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Baytex Energy's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Baytex Energy's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Baytex Energy's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Baytex Energy's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Baytex Energy's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Baytex Energy Company Filings, last reported 3 months ago.

DB:B5X Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 3,024.81 2,106.56
2018-12-31 3,055.42 2,103.94
2018-09-30 3,154.70 2,003.26 45.16
2018-06-30 1,917.69 1,746.70
2018-03-31 1,928.40 1,722.74
2017-12-31 1,914.89 1,686.32
2017-09-30 1,836.90 1,697.27 0.55
2017-06-30 1,929.14 1,787.10 2.37
2017-03-31 1,976.44 1,813.96 3.05
2016-12-31 1,978.96 1,754.07 2.71
2016-09-30 2,169.86 1,822.23 0.90
2016-06-30 2,183.87 1,868.15 0.42
2016-03-31 2,260.81 1,807.60 0.45
2015-12-31 2,414.47 1,854.93 0.25
2015-09-30 2,742.06 1,764.38 0.23
2015-06-30 3,045.63 1,660.70 0.27
2015-03-31 2,539.68 2,267.75 4.96
2014-12-31 2,506.78 2,062.34 1.14
2014-09-30 2,822.18 1,985.30 3.15
2014-06-30 2,617.63 2,262.69 18.15
2014-03-31 1,290.10 758.95 2.34
2013-12-31 1,282.49 675.40 18.37
2013-09-30 1,296.07 691.31 0.32
2013-06-30 1,265.28 675.29 2.35
2013-03-31 1,268.74 600.26 0.23
2012-12-31 1,299.41 557.59 1.84
2012-09-30 1,306.80 621.24 197.73
  • Baytex Energy's level of debt (69.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (59.4% vs 69.6% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Baytex Energy has sufficient cash runway for more than 3 years based on current free cash flow.
  • Baytex Energy has sufficient cash runway for more than 3 years if free cash flow continues to reduce at historical rates of -32.6% each year.
X
Financial health checks
We assess Baytex Energy's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Baytex Energy has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Baytex Energy's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Baytex Energy dividends. Estimated to be 0% next year.
If you bought €2,000 of Baytex Energy shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Baytex Energy's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Baytex Energy's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:B5X Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 56 Stocks 5.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:B5X Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.00 1.00
2021-12-31 0.00 2.00
2020-12-31 0.00 4.00
2019-12-31 0.00 4.00
DB:B5X Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2017-08-01 0.000 0.000
2017-05-04 0.000 0.000
2017-03-07 0.000 0.000
2016-11-02 0.000 0.000
2016-07-28 0.000 0.000
2016-05-03 0.000 0.000
2016-03-03 0.000 0.000
2015-08-21 0.000 0.000
2015-08-10 1.200 14.258
2015-07-10 1.200 9.149
2015-06-15 1.200 6.131
2015-05-15 1.200 5.705
2015-04-15 1.200 5.301
2015-03-16 1.200 5.955
2015-02-17 1.200 6.099
2015-01-15 1.200 5.794
2014-12-08 1.200 6.824
2014-11-17 2.880 11.562
2014-10-15 2.880 8.545
2014-09-15 2.880 7.052
2014-08-14 2.880 6.202
2014-07-15 2.880 6.149
2014-06-11 2.880 5.962
2014-05-15 2.640 5.765
2014-04-15 2.640 5.777
2014-03-17 2.640 5.875
2014-02-13 2.640 6.365
2014-01-15 2.640 6.462
2013-12-16 2.640 6.430
2013-11-14 2.640 6.246
2013-10-15 2.640 6.200
2013-09-16 2.640 6.288
2013-08-15 2.640 6.371
2013-07-15 2.640 6.214
2013-06-17 2.640 6.736
2013-05-15 2.640 6.781
2013-04-15 2.640 6.755
2013-03-14 2.640 6.238
2013-02-14 2.640 6.012
2013-01-15 2.640 5.751
2012-12-17 2.640 6.074
2012-10-15 2.640 5.889
2012-09-17 2.640 5.575
2012-08-15 2.640 5.669
2012-07-16 2.640 6.204
2012-06-14 2.640 6.251
2012-05-15 2.640 5.829
2012-04-16 2.640 5.259
2012-03-15 2.640 5.149
2012-02-15 2.640 4.693
2012-01-17 2.640 4.631
2011-12-06 2.640 4.717
2011-11-15 2.400 4.631
2011-10-17 2.400 4.546
2011-09-15 2.400 5.273
2011-08-15 2.400 5.031
2011-07-14 2.400 4.670
2011-06-15 2.400 4.664
2011-05-16 2.400 4.534
2011-04-14 2.400 4.287
2011-03-15 2.400 4.267
2011-02-15 2.400 4.459
2010-12-07 2.400 5.024
2010-11-15 2.160 5.093
2010-10-14 2.160 5.577
2010-09-15 2.160 5.872
2010-08-16 2.160 6.250
2010-07-15 2.160 6.433
2010-06-15 2.160 6.541
2010-05-17 2.160 6.846
2010-04-15 2.160 6.493
2010-03-15 2.160 6.177
2010-02-16 2.160 6.440
2010-01-14 2.160 6.920
2009-12-01 2.160 7.416
2009-11-16 1.440 5.268
2009-10-15 1.440 5.318
2009-09-15 1.440 5.857
2009-08-17 1.440 6.012
2009-07-15 1.440 6.527
2009-06-15 1.440 7.556
2009-05-14 1.440 7.589
2009-04-15 1.440 8.463
2009-03-16 1.440 9.367
2009-02-18 1.440 12.272
2009-01-15 2.160 15.175
2008-12-16 2.160 14.570
2008-11-14 3.000 18.206
2008-10-15 3.000 15.623
2008-09-15 3.000 13.037
2008-08-14 3.000 10.212

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Baytex Energy has not reported any payouts.
  • Unable to verify if Baytex Energy's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Baytex Energy's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Baytex Energy has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Baytex Energy's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess Baytex Energy's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Baytex Energy afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Baytex Energy has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Baytex Energy's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Ed LaFehr
COMPENSATION CA$3,243,500
AGE 59
TENURE AS CEO 2.2 years
CEO Bio

Mr. Edward David LaFehr, also known as Ed, has been the President of Baytex Energy Corp. since July 18, 2016 and has been its Chief Executive Officer since May 4, 2017. Mr. LaFehr has been Non-Executive Independent Director of TransGlobe Energy Corporation since March 12, 2019. He has years of global experience leading large organizations, directing projects, managing assets and overseeing joint venture partnerships, the statement added. He served as the Chief Operating Officer of TAQA North Ltd. from April 22, 2014 to 2016. He was President of TAQA’s North American oil and gas business. He served as the Chief Operating Officer of Abu Dhabi National Energy Company PJSC until June 2016 and also served as its President of North America from September 2012 to April 22, 2014. Prior to this, he served as Senior Vice President for Talisman Energy, accountable for its Canadian business. Mr. LaFehr has a long track record of success in the oil and gas industry leading organizations, growing assets and joint ventures and driving capital and cost efficiencies. Mr. LaFehr holds Master’s degrees in geophysics and mineral economics from Stanford University and the Colorado School of Mines, respectively.

CEO Compensation
  • Ed's compensation has increased whilst company is loss making.
  • Ed's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Baytex Energy management team in years:

1.5
Average Tenure
47.5
Average Age
  • The average tenure for the Baytex Energy management team is less than 2 years, this suggests a new team.
Management Team

Ed LaFehr

TITLE
President
COMPENSATION
CA$3M
AGE
59
TENURE
2.2 yrs

Rodney Gray

TITLE
Executive VP & CFO
COMPENSATION
CA$2M
AGE
47
TENURE
5.3 yrs

Brian Ector

TITLE
Senior Vice President of Capital Markets & Public Affairs
COMPENSATION
CA$1M
AGE
50

Jason Jaskela

TITLE
Executive VP & COO
AGE
42
TENURE
0.3 yrs

M. Lovett

TITLE
Vice President of Corporate Development
AGE
45

Jon Grimwood

TITLE
Vice President of Exploration
AGE
48
TENURE
0.9 yrs
Board of Directors Tenure

Average tenure and age of the Baytex Energy board of directors in years:

1.1
Average Tenure
59
Average Age
  • The average tenure for the Baytex Energy board of directors is less than 3 years, this suggests a new board.
Board of Directors

Neil Roszell

TITLE
Chairman of the Board
COMPENSATION
CA$105K
AGE
51
TENURE
0.9 yrs

Ed LaFehr

TITLE
President
COMPENSATION
CA$3M
AGE
59
TENURE
2.2 yrs

Naveen Dargan

TITLE
Independent Director
COMPENSATION
CA$242K
AGE
61
TENURE
16.5 yrs

Trudy Curran

TITLE
Independent Director
COMPENSATION
CA$228K
AGE
56
TENURE
1.3 yrs

Mark Bly

TITLE
Lead Independent Director
COMPENSATION
CA$226K
AGE
59
TENURE
0.3 yrs

Greg Melchin

TITLE
Independent Director
COMPENSATION
CA$230K
AGE
65
TENURE
11.5 yrs

Dave Pearce

TITLE
Independent Director
COMPENSATION
CA$72K
AGE
65
TENURE
0.9 yrs

Kevin Olson

TITLE
Independent Director
COMPENSATION
CA$78K
AGE
50
TENURE
0.9 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Baytex Energy individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
07. Jun 19 Buy Trudy Curran Individual 05. Jun 19 05. Jun 19 60,000 €1.40 €84,224
26. Mar 19 Buy Edward LaFehr Individual 26. Mar 19 26. Mar 19 2,000 €1.58 €3,150
18. Mar 19 Buy Edward LaFehr Individual 18. Mar 19 18. Mar 19 2,222 €1.49 €3,320
12. Mar 19 Buy Mark Bly Individual 12. Mar 19 12. Mar 19 10,000 €1.51 €15,060
29. Jan 19 Buy Edward LaFehr Individual 28. Jan 19 28. Jan 19 5,000 €1.44 €7,186
22. Jan 19 Buy Edward LaFehr Individual 18. Jan 19 18. Jan 19 2,500 €1.69 €4,235
14. Jan 19 Buy Edward LaFehr Individual 11. Jan 19 11. Jan 19 2,500 €1.74 €4,339
27. Dec 18 Buy David Pearce Individual 27. Dec 18 27. Dec 18 25,000 €1.32 €33,077
26. Dec 18 Buy David Pearce Individual 24. Dec 18 24. Dec 18 50,000 €1.25 €62,254
25. Dec 18 Buy David Pearce Individual 21. Dec 18 21. Dec 18 100,000 €1.31 €131,217
20. Nov 18 Buy Edward LaFehr Individual 20. Nov 18 20. Nov 18 41,494 €1.60 €66,246
20. Nov 18 Buy Brian Ector Individual 20. Nov 18 20. Nov 18 10,000 €1.61 €16,098
18. Nov 18 Sell David Pearce Individual 16. Nov 18 16. Nov 18 -70,000 €1.72 €-120,400
19. Nov 18 Sell David Pearce Individual 19. Nov 18 19. Nov 18 -66,000 €1.73 €-114,111
07. Nov 18 Sell Naveen Dargan Individual 06. Nov 18 06. Nov 18 -30,000 €1.92 €-57,657
07. Nov 18 Buy Naveen Dargan Individual 06. Nov 18 06. Nov 18 30,000 €1.92 €57,657
X
Management checks
We assess Baytex Energy's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Baytex Energy has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. The company offers light oil, natural gas liquids, shale and natural gas, heavy gravity crude oil, bitumen, and heavy oil. Its principal oil and natural gas properties include the Eagle Ford property in Texas, Viking and Lloydminster properties in Alberta and Saskatchewan, Peace River and Duvernay properties in Alberta. As of March 6, 2019, it had proved developed producing reserves of 135 million barrels of oil equivalent (mmboe); proved reserves of 315 mmboe; and proved plus probable reserves of 527 mmboe. Baytex Energy Corp. was founded in 1993 and is headquartered in Calgary, Canada.

Details
Name: Baytex Energy Corp.
B5X
Exchange: DB
Founded: 1993
CA$725,279,955
556,722,190
Website: http://www.baytexenergy.com
Address: Baytex Energy Corp.
Centennial Place, East Tower,
Suite 2800,
Calgary,
Alberta, T2P 0R3,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX BTE Common Shares The Toronto Stock Exchange CA CAD 08. Nov 1993
NYSE BTE Common Shares New York Stock Exchange US USD 08. Nov 1993
DB B5X Common Shares Deutsche Boerse AG DE EUR 08. Nov 1993
Number of employees
Current staff
Staff numbers
242
Baytex Energy employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/24 00:26
End of day share price update: 2019/07/22 00:00
Last estimates confirmation: 2019/07/18
Last earnings filing: 2019/05/02
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.