Baytex Energy Corp. (BTE) Shares Down 4.1%
Baytex Energy Corp. (NYSE:BTE) shares fell 4.1% during trading on Friday . The company traded as low as $5.15 and last traded at $5.16, with a volume of 1,417,992 shares. The stock had previously closed at $5.38.
A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Baytex Energy Corp. from a “buy” rating to a “hold” rating in a research note on Thursday. Scotiabank reaffirmed an “outperform” rating and issued a $8.75 price objective on shares of Baytex Energy Corp. in a research note on Friday, July 15th. Canaccord Genuity assumed coverage on shares of Baytex Energy Corp. in a research note on Thursday, July 14th. They issued a “buy” rating for the company. BMO Capital Markets raised shares of Baytex Energy Corp. from an “underperform” rating to a “market perform” rating in a research note on Thursday, June 30th. Finally, CIBC reaffirmed a “sector perform” rating and issued a $9.50 price objective on shares of Baytex Energy Corp. in a research note on Wednesday, June 15th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.31.
The company’s 50 day moving average is $5.69 and its 200-day moving average is $4.01. The stock’s market capitalization is $1.10 billion.
An institutional investor recently raised its position in Baytex Energy Corp. stock. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in Baytex Energy Corp. (NYSE:BTE) by 97.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 465,700 shares of the company’s stock after buying an additional 229,300 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned 0.22% of Baytex Energy Corp. worth $2,086,000 as of its most recent filing with the SEC.
Baytex Energy Corp. (Baytex), through its subsidiaries, is engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (primarily in the provinces of Alberta and Saskatchewan) and in the United States (primarily in the state of Texas).
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