Baytex Energy (BTE) Shares Up 10%
Baytex Energy Corp (TSE:BTE) (NYSE:BTE) was up 10% on Friday . The company traded as high as C$2.54 and last traded at C$2.54. Approximately 695,210 shares were traded during trading, a decline of 86% from the average daily volume of 4,898,096 shares. The stock had previously closed at C$2.31.
A number of equities research analysts have weighed in on BTE shares. TD Securities lowered their price target on Baytex Energy from C$6.00 to C$5.50 and set a “buy” rating on the stock in a research report on Monday, November 5th. Raymond James upgraded Baytex Energy from an “underperform” rating to a “market perform” rating and lowered their price target for the company from C$5.00 to C$4.75 in a research report on Thursday, August 23rd. National Bank Financial raised their price target on Baytex Energy from C$5.25 to C$7.25 and gave the company an “outperform” rating in a research report on Tuesday, July 24th. BMO Capital Markets lowered their price target on Baytex Energy from C$5.25 to C$4.75 in a research report on Tuesday, October 9th. Finally, GMP Securities lowered their price target on Baytex Energy from C$8.00 to C$7.75 in a research report on Monday, November 5th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Baytex Energy currently has a consensus rating of “Buy” and a consensus target price of C$5.85.
The company has a debt-to-equity ratio of 63.50, a current ratio of 0.55 and a quick ratio of 0.54.
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About Baytex Energy (TSE:BTE)
Baytex Energy Corp., an oil and gas company, engages in the acquisition, development, and production of oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. It offers heavy oil, heavy gravity crude oil, bitumen, light oil, and natural gas liquids. Its primary oil resource plays include the Eagle Ford in Texas, and the Peace River Oil Sands and Lloydminster heavy oil projects in North America.
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