Baytex Energy (OTCMKTS:BTEGF) Trading 1.6% Higher – Still a Buy?

by · The Markets Daily

Baytex Energy Corp. (OTCMKTS:BTEGF – Get Free Report) shares shot up 1.6% on Tuesday . The stock traded as high as $3.22 and last traded at $3.17. 16,207,242 shares traded hands during trading, an increase of 6,395% from the average session volume of 249,520 shares. The stock had previously closed at $3.12.

Wall Street Analysts Forecast Growth

BTEGF has been the subject of several recent research reports. TD Securities restated a “buy” rating on shares of Baytex Energy in a report on Tuesday, December 23rd. Scotiabank reissued a “sector perform” rating on shares of Baytex Energy in a research note on Thursday, October 9th. Finally, CIBC reissued a “neutral” rating on shares of Baytex Energy in a research note on Monday, November 17th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Read Our Latest Analysis on BTEGF

Baytex Energy Stock Up 2.2%

The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average price of $2.92 and a two-hundred day moving average price of $2.42. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 2.20 and a beta of 2.16.

Baytex Energy Company Profile

(Get Free Report)

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.

Further Reading