Baytex Energy Corp. (NYSE:BTE) shares were down 4.2% during mid-day trading on Wednesday . The company traded as low as $4.78 and last traded at $4.78, with a volume of 3,462,733 shares changing hands. The stock had previously closed at $4.99.

A number of research analysts have recently issued reports on BTE shares. Zacks Investment Research raised Baytex Energy Corp. from a “hold” rating to a “buy” rating and set a $5.50 price target on the stock in a report on Friday, May 6th. CIBC reaffirmed a “sector perform” rating and set a $9.50 price target on shares of Baytex Energy Corp. in a report on Wednesday, June 15th. Canaccord Genuity started coverage on Baytex Energy Corp. in a 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 report on Friday, July 15th. Finally, TD Securities reaffirmed a “hold” rating and set a $7.50 price target on shares of Baytex Energy Corp. in a report on Wednesday, August 3rd. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $9.19.

The company has a 50 day moving average price of $5.25 and a 200 day moving average price of $4.27. The company’s market capitalization is $1.01 billion.

Baytex Energy Corp. (NYSE:BTE) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.41) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.31. The firm earned $195.73 million during the quarter, compared to analysts’ expectations of $195.99 million. The firm’s revenue was down 42.9% on a year-over-year basis. On average, equities analysts expect that Baytex Energy Corp. will post ($0.59) EPS for the current year.

An institutional investor recently raised its position 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 disclosure with the 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 at the end of the most recent quarter.

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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