Baytex Energy (TSE:BTE) Shares Cross Above 200-Day Moving Average of $6.44

Baytex Energy Corp. (TSE:BTEGet Rating) (NYSE:BTE)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$6.44 and traded as high as C$6.89. Baytex Energy shares last traded at C$6.70, with a volume of 5,103,757 shares.

Analysts Set New Price Targets

Several analysts have recently weighed in on BTE shares. National Bankshares reduced their price target on Baytex Energy from C$10.50 to C$10.00 and set an “outperform” rating on the stock in a report on Monday, July 18th. Scotiabank boosted their price target on Baytex Energy from C$6.75 to C$9.00 in a report on Wednesday, June 8th. Standpoint Research reduced their price target on Baytex Energy from C$9.00 to C$8.57 in a report on Thursday, July 28th. CIBC reduced their price target on Baytex Energy from C$10.00 to C$8.50 in a report on Monday, August 22nd. Finally, Stifel Nicolaus boosted their price target on Baytex Energy from C$8.25 to C$9.00 in a report on Monday, July 4th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$8.23.

Baytex Energy Price Performance

The company has a fifty day moving average of C$6.49 and a 200 day moving average of C$6.44. The firm has a market capitalization of C$3.26 billion and a P/E ratio of 4.46. The company has a debt-to-equity ratio of 46.97, a current ratio of 0.62 and a quick ratio of 0.59.

Baytex Energy (TSE:BTEGet Rating) (NYSE:BTE) last announced its earnings results on Wednesday, July 27th. The company reported C$0.32 EPS for the quarter, beating the consensus estimate of C$0.28 by C$0.04. The company had revenue of C$854.17 million during the quarter. Sell-side analysts predict that Baytex Energy Corp. will post 1.4700001 earnings per share for the current year.

Baytex Energy Company Profile

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Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Texas, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas. Its principal oil and natural gas properties comprise the Eagle Ford property in Texas, Viking and Lloydminster properties in Alberta and Saskatchewan, Peace River and Duvernay properties in Alberta.

Further Reading

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