Baytex Energy Corp. (NYSE:BTE) shares traded down 2.4% during trading on Monday . The company traded as low as $4.77 and last traded at $4.79, with a volume of 942,456 shares. The stock had previously closed at $4.91.

A number of research analysts have recently commented on the stock. BMO Capital Markets raised shares of Baytex Energy Corp. from an “underperform” rating to a “market perform” rating in a report on Thursday, June 30th. Zacks Investment Research cut shares of Baytex Energy Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. CIBC reissued a “sector perform” rating and issued a $9.50 target price on shares of Baytex Energy Corp. in a report on Wednesday, June 15th. Canaccord Genuity assumed coverage on shares of Baytex Energy Corp. in a report on Thursday, July 14th. They issued a “buy” rating for the company. Finally, Scotiabank reissued an “outperform” rating and issued a $8.75 target price on shares of Baytex Energy Corp. in a report on Friday, July 15th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Baytex Energy Corp. presently has an average rating of “Hold” and an average target price of $7.53.

The stock’s market capitalization is $955.11 million. The firm’s 50 day moving average price is $5.07 and its 200-day moving average price is $4.61.

Baytex Energy Corp. (NYSE:BTE) last posted its earnings results 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 business earned $195.73 million during the quarter, compared to analyst estimates of $195.99 million. The firm’s revenue for the quarter was down 42.9% on a year-over-year basis. On average, analysts forecast 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 position in shares of Baytex Energy Corp. (NYSE:BTE) by 74.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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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