Baytex Energy Corp. (BTE) Shares Gap Up to $4.68
Baytex Energy Corp. (NYSE:BTE) shares gapped up prior to trading on Monday . The stock had previously closed at $4.57, but opened at $4.68. Baytex Energy Corp. shares last traded at $5.07, with a volume of 1,940,333 shares.
Several research analysts have issued reports on the stock. TD Securities reaffirmed a “hold” rating and issued a $7.50 target price on shares of Baytex Energy Corp. in a report on Wednesday, August 3rd. Scotiabank reaffirmed an “outperform” rating and issued a $8.75 target price on shares of Baytex Energy Corp. in a report on Sunday, July 31st. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $6.50 target price on shares of Baytex Energy Corp. in a report on Friday, July 29th. Barclays PLC decreased their target price on shares of Baytex Energy Corp. from $9.00 to $8.00 and set an “equal weight” rating for the company in a report on Friday, July 29th. Finally, Zacks Investment Research cut shares of Baytex Energy Corp. from a “buy” rating to a “hold” rating in a report on Thursday, July 21st. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.19.
The firm’s market capitalization is $1.07 billion. The stock’s 50 day moving average is $5.31 and its 200 day moving average is $4.24.
Baytex Energy Corp. (NYSE:BTE) last issued its earnings results 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 business had revenue of $195.73 million for the quarter, compared to the consensus estimate of $195.99 million. The company’s revenue was down 42.9% compared to the same quarter last year. Equities research analysts predict that Baytex Energy Corp. will post ($0.59) EPS for the current fiscal year.
An institutional investor recently raised its position in Baytex Energy Corp. stock. I.G. Investment Management LTD. boosted its position in shares of Baytex Energy Corp. (NYSE:BTE) by 74.0% during the fourth quarter, according to its most recent filing with the SEC. 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 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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