Baytex Energy Corp (TSE:BTE) (NYSE:BTE)’s share price rose 6.5% on Friday . The company traded as high as C$3.23 and last traded at C$3.20. Approximately 3,153,191 shares traded hands during mid-day trading, an increase of 40% from the average daily volume of 2,248,930 shares. The stock had previously closed at C$3.00.
BTE has been the subject of a number of recent analyst reports. Canaccord Genuity upped their price objective on Baytex Energy Corp from C$3.50 to C$4.25 in a research note on Wednesday, August 2nd. AltaCorp Capital lowered Baytex Energy Corp from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 6th. Finally, TD Securities upped their price objective on Baytex Energy Corp from C$4.00 to C$4.25 and gave the stock a “hold” rating in a research note on Wednesday, August 2nd. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of C$6.15.
The company’s 50-day moving average price is $3.45 and its 200 day moving average price is $3.58. The stock’s market capitalization is $760.50 million.
In related news, Director John Albert Brussa sold 125,000 shares of Baytex Energy Corp stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of C$3.58, for a total value of C$447,500.00.
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About Baytex Energy Corp
Baytex Energy Corp. (Baytex) 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 four business units: Lloydminster, Peace River, Conventional and United States.
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