Baytex Energy (OTCMKTS:BTEGF) Trading Down 0.8% – Here’s Why

Shares of Baytex Energy Corp. (OTCMKTS:BTEGF) traded down 0.8% on Thursday . The company traded as low as $3.54 and last traded at $3.56. 16,901,080 shares traded hands during trading, an increase of 6,673% from the average session volume of 249,520 shares. The stock had previously closed at $3.59.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. TD Securities restated a “buy” rating on shares of Baytex Energy in a report on Tuesday, December 23rd. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Baytex Energy in a research note on Monday, November 17th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Baytex Energy Stock Performance

The company has a 50-day moving average of $3.28 and a 200-day moving average of $2.72. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 2.42 and a beta of 2.16. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.40.

Baytex Energy Company Profile

Baytex Energy is a Canadian energy company engaged in the exploration, development and production of oil and natural gas resources. Headquartered in Calgary, Alberta, the company focuses primarily on developing heavy oil assets in Canada, complemented by light oil and condensate-rich natural gas production in the United States. Baytex operates key oil sands and conventional heavy oil projects in Western Canada’s Peace River and Lloydminster regions, as well as Eagle Ford Shale assets in Texas.

Since its incorporation in 1993, Baytex has expanded its portfolio through strategic acquisitions and organic growth initiatives.