DB:B5X

Stock Analysis Report

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Executive Summary

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.


Snowflake Analysis

Fair value with imperfect balance sheet.


Similar Companies

Share Price & News

How has Baytex Energy's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: B5X's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

1.8%

B5X

-2.9%

DE Oil and Gas

-1.6%

DE Market


1 Year Return

-71.5%

B5X

44.3%

DE Oil and Gas

8.3%

DE Market

Return vs Industry: B5X underperformed the German Oil and Gas industry which returned 44.3% over the past year.

Return vs Market: B5X underperformed the German Market which returned 8.3% over the past year.


Shareholder returns

B5XIndustryMarket
7 Day1.8%-2.9%-1.6%
30 Day-6.1%-1.1%0.2%
90 Day40.0%24.6%12.8%
1 Year-71.5%-71.5%47.9%44.3%10.7%8.3%
3 Year-85.0%-85.0%14.6%4.3%3.8%-4.5%
5 Year-95.8%-95.9%145.2%109.0%9.6%-5.2%

Price Volatility Vs. Market

How volatile is Baytex Energy's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Baytex Energy undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: B5X (€0.34) is trading below our estimate of fair value (€10.38)

Significantly Below Fair Value: B5X is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: B5X is unprofitable, so we can't compare its PE Ratio to the XE Oil and Gas industry average.

PE vs Market: B5X is unprofitable, so we can't compare its PE Ratio to the German market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate B5X's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: B5X is good value based on its PB Ratio (0.8x) compared to the DE Oil and Gas industry average (1.2x).


Next Steps

Future Growth

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

102.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: B5X is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: B5X is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: B5X is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: B5X's revenue (3.4% per year) is forecast to grow slower than the German market (5.9% per year).

High Growth Revenue: B5X's revenue (3.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if B5X's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Baytex Energy performed over the past 5 years?

-9.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: B5X is currently unprofitable.

Growing Profit Margin: B5X is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: B5X is unprofitable, and losses have increased over the past 5 years at a rate of 9.3% per year.

Accelerating Growth: Unable to compare B5X's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: B5X is unprofitable, making it difficult to compare its past year earnings growth to the Oil and Gas industry (-15.8%).


Return on Equity

High ROE: B5X has a negative Return on Equity (-628.78%), as it is currently unprofitable.


Next Steps

Financial Health

How is Baytex Energy's financial position?


Financial Position Analysis

Short Term Liabilities: B5X's short term assets (CA$143.7M) do not cover its short term liabilities (CA$203.9M).

Long Term Liabilities: B5X's short term assets (CA$143.7M) do not cover its long term liabilities (CA$2.6B).


Debt to Equity History and Analysis

Debt Level: B5X's debt to equity ratio (438.4%) is considered high.

Reducing Debt: B5X's debt to equity ratio has increased from 54.7% to 438.4% over the past 5 years.


Balance Sheet


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.

Stable Cash Runway: Whilst unprofitable B5X has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: B5X is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 5.4% per year.


Next Steps

Dividend

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


Dividend Yield vs Market

Notable Dividend: Unable to evaluate B5X's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate B5X's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if B5X's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if B5X's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: B5X is not paying a notable dividend for the German market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of B5X's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

6.3yrs

Average management tenure


CEO

Ed LaFehr (60 yo)

3.25yrs

Tenure

CA$2,763,750

Compensation

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 In ...


CEO Compensation Analysis

Compensation vs Market: Ed's total compensation ($USD2.07M) is above average for companies of similar size in the German market ($USD755.31K).

Compensation vs Earnings: Ed's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Edward LaFehr
President3.25yrsCA$2.76m0.15%
CA$ 325.9k
Rodney Gray
Executive VP & CFO6.33yrsCA$1.70m0.072%
CA$ 160.2k
Kendall Arthur
Vice President of Heavy Oil8.58yrsCA$972.50k0.037%
CA$ 81.1k
James Maclean
General Counsel & Corporate Secretaryno datano datano data
M. Lovett
Vice President of Corporate Development2.92yrsno data0.020%
CA$ 44.1k
Brian Ector
Vice President of Capital Markets6.42yrsCA$1.03m0.038%
CA$ 83.3k

6.3yrs

Average Tenure

48yo

Average Age

Experienced Management: B5X's management team is seasoned and experienced (6.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Edward LaFehr
President3.25yrsCA$2.76m0.15%
CA$ 325.9k
Donald Hrap
Independent Director0.42yrno datano data
Trudy Curran
Independent Director4.08yrsCA$192.98k0.034%
CA$ 75.3k
Gregory Melchin
Independent Director12.25yrsCA$196.94k0.027%
CA$ 58.9k
Naveen Dargan
Independent Director16.92yrsCA$201.28k0.087%
CA$ 191.9k
David Pearce
Independent Director2yrsCA$189.50k0.034%
CA$ 75.0k
Jennifer Maki
Independent Director0.92yrCA$67.19k0.013%
CA$ 29.6k
Mark Bly
Chairman & Lead Independent Director0.67yrCA$222.40k0.044%
CA$ 98.1k

2.6yrs

Average Tenure

60yo

Average Age

Experienced Board: B5X's board of directors are not considered experienced ( 2.6 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: B5X insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Baytex Energy Corp.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Baytex Energy Corp.
  • Ticker: B5X
  • Exchange: DB
  • Founded: 1993
  • Industry: Oil and Gas Exploration and Production
  • Sector: Energy
  • Market Cap: CA$347.944m
  • Listing Market Cap: CA$221.310m
  • Shares outstanding: 561.20m
  • Website: https://www.baytexenergy.com

Number of Employees


Location

  • Baytex Energy Corp.
  • Centennial Place, East Tower
  • Suite 2800
  • Calgary
  • Alberta
  • T2P 0R3
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BTETSX (The Toronto Stock Exchange)YesCommon SharesCACADNov 1993
BTENYSE (New York Stock Exchange)YesCommon SharesUSUSDNov 1993
B5XDB (Deutsche Boerse AG)YesCommon SharesDEEURNov 1993

Biography

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 li ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/04 21:22
End of Day Share Price2020/08/04 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.