Baytex Energy Corp. (BTE) Trading 5% Higher
Baytex Energy Corp. (NYSE:BTE)’s share price was up 5% 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 weighed in on BTE shares. Canaccord Genuity started coverage on shares of Baytex Energy Corp. in a research report on Thursday, July 14th. They set a “buy” rating for the company. TD Securities reiterated a “hold” rating and issued a $7.50 target price on shares of Baytex Energy Corp. in a report on Wednesday, August 3rd. CIBC reiterated a “sector perform” rating and issued a $9.50 target price on shares of Baytex Energy Corp. in a report on Wednesday, June 15th. Scotiabank reiterated an “outperform” rating and issued a $8.75 target price on shares of Baytex Energy Corp. in a report on Sunday, July 31st. Finally, Zacks Investment Research upgraded shares of Baytex Energy Corp. from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a report on Wednesday, July 20th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $7.53.
The stock has a 50 day moving average price of $4.99 and a 200-day moving average price of $4.61. The company’s market capitalization is $1.00 billion.
Baytex Energy Corp. (NYSE:BTE) last released its quarterly earnings results on Thursday, July 28th. The company reported ($0.41) earnings per share (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 analyst estimates of $195.99 million. Baytex Energy Corp.’s revenue was down 42.9% compared to the same quarter last year. On average, equities research analysts anticipate that Baytex Energy Corp. will post ($0.60) EPS for the current fiscal 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.
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