Baytex Energy Corp. (BTE) Trading 5.7% Higher
Baytex Energy Corp. (NYSE:BTE) shares traded up 5.7% during mid-day trading on Tuesday . The stock traded as high as $5.77 and last traded at $5.75, with a volume of 2,309,699 shares changing hands. The stock had previously closed at $5.44.
Several research analysts recently issued reports on the company. BMO Capital Markets raised Baytex Energy Corp. from an “underperform” rating to a “market perform” rating in a research report on Thursday, June 30th. Zacks Investment Research cut Baytex Energy Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. CIBC reaffirmed a “sector perform” rating and set a $9.50 target price on shares of Baytex Energy Corp. in a research report on Wednesday, June 15th. Canaccord Genuity reaffirmed a “buy” rating on shares of Baytex Energy Corp. in a research report on Tuesday, May 3rd. Finally, TD Securities reaffirmed a “hold” rating and set a $6.00 target price (up previously from $5.50) on shares of Baytex Energy Corp. in a research report on Friday, May 6th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $9.54.
The stock’s market cap is $1.22 billion. The company’s 50-day moving average price is $5.57 and its 200 day moving average price is $3.91.
Several large investors have recently modified their holdings of BTE. Henderson Group PLC purchased a new stake in shares of Baytex Energy Corp. during the fourth quarter valued at about $2,025,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in shares of Baytex Energy Corp. by 97.0% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 465,700 shares of the company’s stock valued at $2,086,000 after buying an additional 229,300 shares during the period. Finally, I.G. Investment Management LTD. boosted its stake in shares of Baytex Energy Corp. by 74.0% in the fourth quarter. I.G. Investment Management LTD. now owns 2,028,900 shares of the company’s stock valued at $6,572,000 after buying an additional 862,710 shares during the period.
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.