Baytex Energy Corp. (BTE) Trading Down 4.1%
Baytex Energy Corp. (NYSE:BTE) shares dropped 4.1% during mid-day 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 changing hands. The stock had previously closed at $5.38.
BTE has been the subject of a number of analyst reports. Canaccord Genuity started coverage on shares of Baytex Energy Corp. in a report on Thursday, July 14th. They set a “buy” rating for the company. Zacks Investment Research cut shares of Baytex Energy Corp. from a “buy” rating to a “hold” rating in a report on Thursday. BMO Capital Markets upgraded shares of Baytex Energy Corp. from an “underperform” rating to a “market perform” rating in a report on Thursday, June 30th. Scotiabank reiterated an “outperform” rating and issued a $8.75 price target on shares of Baytex Energy Corp. in a report on Friday, July 15th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $7.00 price target (up previously from $6.00) on shares of Baytex Energy Corp. in a report on Thursday, May 5th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Baytex Energy Corp. currently has a consensus rating of “Hold” and an average price target of $9.31.
The stock has a 50 day moving average of $5.70 and a 200-day moving average of $4.03. The stock’s market cap is $1.10 billion.
A hedge fund recently raised its stake in Baytex Energy Corp. stock. I.G. Investment Management LTD. boosted its stake in Baytex Energy Corp. (NYSE:BTE) by 74.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,028,900 shares of the company’s stock after buying an additional 862,710 shares during the period. I.G. Investment Management LTD. owned 0.96% of Baytex Energy Corp. worth $6,572,000 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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