- Natural gas prices are down by a third this year and 75 per cent from their 2022 peak
- Suncor Energy Inc. (TSX:SU) delivered a better-than-expected Q4 2022 profit
- Baytex Energy Corp. (TSX:BTE) begins trading its shares on the New York Stock Exchange today under BTE
- Baytex releases its Q4 2022 and full-year financial and operating results after market close on Thursday
Falling gas prices have hit Canadian oil and gas companies hard.
Longer summers leading to warmer winters have depressed natural gas prices by a third this year and are down 75 per cent from their 2022 peak, according to oilprice.com data.
It’s reporting season in Toronto, and analysts have cut their earnings forecasts for the nation’s energy sector, but the situation isn’t as dire as it seems.
Suncor Energy Inc. (TSX:SU) delivered a better-than-expected Q4 2022 profit last week, and others in the sector have positive news of their own to report.
Baytex Energy Corp. (TSX:BTE) Stock begins trading its shares on the New York Stock Exchange today under the ticker BTE.
The Calgary firm will release its Q4 2022 and full-year financial and operating results after market close on Thursday. Investors and the general public can find out more when the team holds its next conference call and webcast on Friday, February 24, 2023, to discuss the results.
The oil company’s President and Chief Executive Officer, Eric Greager, said that since he joined a year ago, he’s heard from many shareholders about their desire to relist on the NYSE.
“We believe this listing will improve our trading liquidity and enhance our shareholders’ experience. We look forward to better serving our existing shareholders and welcoming new ones.”
The biggest marketplace in the world for investors to buy and sell, relisting on the NYSE raises Baytex’s profile for investment.
BTE stock has seen 10 per cent growth since this time last year, while SU’s stock has gained 20 per cent.