Baytex Energy Corp. (BTE) Shares Up 6.9%
Baytex Energy Corp. (NYSE:BTE)’s share price shot up 6.9% during mid-day trading on Thursday . The stock traded as high as $5.15 and last traded at $5.11, with a volume of 1,997,797 shares traded. The stock had previously closed at $4.78.
Several research firms recently issued reports on BTE. BMO Capital Markets upgraded Baytex Energy Corp. from an “underperform” rating to a “market perform” rating in a research report on Thursday, June 30th. Zacks Investment Research lowered Baytex Energy Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. CIBC restated a “sector perform” rating and set a $9.50 price target on shares of Baytex Energy Corp. in a research report on Wednesday, June 15th. Canaccord Genuity initiated coverage on Baytex Energy Corp. in a report on Thursday, July 14th. They issued a “buy” rating for the company. Finally, Scotiabank reiterated an “outperform” rating and issued a $8.75 price objective on shares of Baytex Energy Corp. in a report on Friday, July 15th. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $9.19.
The company’s market capitalization is $1.06 billion. The firm’s 50-day moving average price is $5.25 and its 200-day moving average price is $4.27.
Baytex Energy Corp. (NYSE:BTE) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.41) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.31. The business earned $195.73 million during the quarter, compared to the consensus estimate of $195.99 million. The company’s revenue was down 42.9% compared to the same quarter last year. On average, equities research analysts forecast that Baytex Energy Corp. will post ($0.59) earnings per share for the current year.
An institutional investor recently raised its position 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 SEC. The institutional investor 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 about 0.96% of Baytex Energy Corp. worth $6,572,000 as of its most recent SEC filing.
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).
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.