Baytex Energy Corp. (BTE) Stock Price Up 4.1%
Baytex Energy Corp. (NYSE:BTE)’s share price rose 4.1% during trading on Thursday . The stock traded as high as $5.63 and last traded at $5.58, with a volume of 1,267,801 shares traded. The stock had previously closed at $5.36.
BTE has been the subject of several analyst reports. Canaccord Genuity initiated coverage on Baytex Energy Corp. in a research report on Thursday, July 14th. They set a “buy” rating for the company. TD Securities restated a “hold” rating and set a $7.50 target price on shares of Baytex Energy Corp. in a research report on Wednesday, August 3rd. CIBC restated 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. Scotiabank restated an “outperform” rating and set a $8.75 target price on shares of Baytex Energy Corp. in a research report on Sunday, July 31st. Finally, Zacks Investment Research upgraded Baytex Energy Corp. from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Wednesday, July 20th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.19.
The firm has a 50 day moving average price of $5.19 and a 200-day moving average price of $4.42. The stock’s market capitalization is $1.16 billion.
Baytex Energy Corp. (NYSE:BTE) last posted its earnings results on Thursday, July 28th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.10) by $0.31. The firm earned $195.73 million during the quarter, compared to the consensus estimate of $195.99 million. The business’s quarterly revenue was down 42.9% on a year-over-year basis. Analysts forecast that Baytex Energy Corp. will post ($0.60) EPS for the current year.
A hedge fund recently raised its stake in Baytex Energy Corp. stock. I.G. Investment Management LTD. increased its position in Baytex Energy Corp. (NYSE:BTE) by 74.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 approximately 0.96% of Baytex Energy Corp. worth $6,572,000 at the end of the most recent reporting 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).
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