Baytex Energy Corp. (NYSE:BTE) was down 2.7% during mid-day trading on Friday . The company traded as low as $5.45 and last traded at $5.48, with a volume of 1,413,003 shares changing hands. The stock had previously closed at $5.63.

A number of equities research analysts have recently issued reports on BTE shares. Zacks Investment Research upgraded Baytex Energy Corp. from a “hold” rating to a “buy” rating and set a $5.50 price target for the company in a research report on Friday, May 6th. CIBC reiterated a “sector perform” rating and issued a $9.50 price objective on shares of Baytex Energy Corp. in a research report on Wednesday, June 15th. Canaccord Genuity started coverage on Baytex Energy Corp. in a research report on Thursday, July 14th. They issued a “buy” rating for the company. Scotiabank reiterated an “outperform” rating and issued a $8.75 price objective on shares of Baytex Energy Corp. in a research report on Friday, July 15th. Finally, TD Securities reiterated a “hold” rating and issued a $7.50 price objective on shares of Baytex Energy Corp. in a research report on Wednesday, August 3rd. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Baytex Energy Corp. currently has an average rating of “Hold” and a consensus target price of $9.19.

The company’s market cap is $1.16 billion. The stock’s 50 day moving average is $5.19 and its 200 day moving average is $4.42.

Baytex Energy Corp. (NYSE:BTE) last issued its quarterly earnings data 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 analysts’ expectations of $195.99 million. Baytex Energy Corp.’s quarterly revenue was down 42.9% compared to the same quarter last year. On average, equities analysts anticipate that Baytex Energy Corp. will post ($0.60) EPS 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 Form 13F filing with the Securities and Exchange Commission. 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 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).

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.