Baytex Energy Corp. (BTE) Stock Price Up 5.3%
Shares of Baytex Energy Corp. (NYSE:BTE) rose 5.3% on Thursday . The company traded as high as $4.80 and last traded at $4.76, with a volume of 2,100,688 shares changing hands. The stock had previously closed at $4.52.
A number of analysts have commented on the stock. Zacks Investment Research cut shares of Baytex Energy Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, July 21st. Canaccord Genuity assumed coverage on shares of Baytex Energy Corp. in a research report on Thursday, July 14th. They set a “buy” rating on the stock. Scotiabank reaffirmed an “outperform” rating and set a $8.75 price target on shares of Baytex Energy Corp. in a research report on Sunday, July 31st. BMO Capital Markets raised shares of Baytex Energy Corp. from an “underperform” rating to a “market perform” rating in a research report on Thursday, June 30th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and set a $6.50 price target on shares of Baytex Energy Corp. in a research report on Friday, July 29th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Baytex Energy Corp. has an average rating of “Hold” and an average target price of $9.19.
The firm’s 50-day moving average is $5.33 and its 200 day moving average is $4.18. The firm’s market cap is $990.01 million.
Baytex Energy Corp. (NYSE:BTE) last issued its earnings results on Thursday, July 28th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.31. The company had revenue of $195.73 million for the quarter, compared to the consensus estimate of $195.99 million. The business’s revenue was down 42.9% on a year-over-year basis. Equities analysts expect that Baytex Energy Corp. will post ($0.60) earnings per share for the current year.
A hedge fund recently raised its stake in Baytex Energy Corp. stock. I.G. Investment Management LTD. raised its position in Baytex Energy Corp. (NYSE:BTE) by 74.0% during the fourth quarter, according to its most recent 13F filing with the 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 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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