Baytex Energy Corp. (BTE) Trading Up 7.2%
Baytex Energy Corp. (NYSE:BTE) was up 7.2% during trading on Friday . The stock traded as high as $4.81 and last traded at $4.74, with a volume of 3,418,292 shares traded. The stock had previously closed at $4.42.
Several equities research analysts have commented on BTE shares. Canaccord Genuity started coverage on shares of Baytex Energy Corp. in a research report on Thursday, July 14th. They set a “buy” rating on the stock. Zacks Investment Research upgraded shares of Baytex Energy Corp. from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a research report on Friday, May 6th. Barclays PLC decreased their target price on shares of Baytex Energy Corp. from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, TD Securities restated a “hold” rating and set a $6.00 target price (up from $5.50) on shares of Baytex Energy Corp. in a research report on Friday, May 6th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $9.77.
The stock’s market capitalization is $986.14 million. The stock has a 50-day moving average of $5.56 and a 200-day moving average of $4.08.
Baytex Energy Corp. (NYSE:BTE) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.31. The company earned $195.73 million during the quarter, compared to analyst estimates of $195.99 million. The company’s revenue for the quarter was down 42.9% compared to the same quarter last year. On average, analysts forecast that Baytex Energy Corp. will post ($0.45) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Baytex Energy Corp. stock. I.G. Investment Management LTD. increased its stake in Baytex Energy Corp. (NYSE:BTE) by 74.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent reporting period.
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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