Baytex Energy Corp. (NYSE:BTE)’s share price fell 2.7% during mid-day trading on Friday . The stock 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.

Several research firms have recently issued reports on BTE. Zacks Investment Research downgraded shares of Baytex Energy Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. Canaccord Genuity restated a “buy” rating on shares of Baytex Energy Corp. in a report on Tuesday, May 3rd. TD Securities reiterated a “hold” rating and issued a $6.00 target price (up previously from $5.50) on shares of Baytex Energy Corp. in a research report on Friday, May 6th. CIBC reiterated a “sector perform” rating and issued a $9.50 target price on shares of Baytex Energy Corp. in a research report on Wednesday, June 15th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $7.00 target price (up previously from $6.00) on shares of Baytex Energy Corp. in a research report on Thursday, May 5th. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $9.19.

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

Baytex Energy Corp. (NYSE:BTE) last issued its earnings results on Thursday, July 28th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.10) by $0.31. The firm 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% on a year-over-year basis. Equities research analysts expect that Baytex Energy Corp. will post ($0.60) 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. raised 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 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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