Baytex Energy Corp. (BTE) Trading Up 5%
Baytex Energy Corp. (NYSE:BTE)’s share price traded up 5% during trading on Friday . The stock traded as high as $4.81 and last traded at $4.79, with a volume of 1,307,692 shares changing hands. The stock had previously closed at $4.56.
Several equities analysts have recently issued reports on BTE shares. TD Securities reaffirmed a “hold” rating and issued a $6.00 price target (up previously from $5.50) on shares of Baytex Energy Corp. in a research report on Friday, May 6th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $7.00 price target (up previously from $6.00) on shares of Baytex Energy Corp. in a research report on Thursday, May 5th. BMO Capital Markets raised Baytex Energy Corp. from an “underperform” rating to a “market perform” rating in a research report on Thursday, June 30th. Barclays PLC lowered their price target on Baytex Energy Corp. from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Friday, July 29th. Finally, Zacks Investment Research lowered Baytex Energy Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, July 21st. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Baytex Energy Corp. presently has an average rating of “Hold” and a consensus target price of $7.53.
The firm has a 50-day moving average price of $5.01 and a 200 day moving average price of $4.61. The firm’s market capitalization is $1.00 billion.
Baytex Energy Corp. (NYSE:BTE) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.41) EPS for the quarter, missing the Zacks’ 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. The company’s quarterly revenue was down 42.9% on a year-over-year basis. On average, equities research analysts forecast that Baytex Energy Corp. will post ($0.60) earnings per share for the current year.
Baytex Energy Corp. is engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (Alberta and Saskatchewan) and in the United States (Texas). The Company’s crude oil and natural gas operations are organized into three business units: Lloydminster, Central and United States.