Baytex Energy Corp (BTE) : Analyst Rating Update

Baytex Energy Corp (BTE) has an average broker rating of 2.33, which is interpreted as a Buy, as rated by 6 equity analysts. Nonetheless, 2 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Nevertheless, the majority of 4 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold.

Baytex Energy Corp (BTE) : 6 investment research analysts covering Baytex Energy Corp (BTE) have an average price target of $7.25 for the near short term. The highest target price given by the Brokerage Firm to the stock is $16 and the lowest target is $4 for the short term. Analysts expect the variance to be within $4.37 of the average price.

Baytex Energy Corp (NYSE:BTE): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $5.54 and $5.49 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.74. The buying momentum continued till the end and the stock did not give up its gains. It closed at $5.73, notching a gain of 1.78% for the day. The total traded volume was 2,638,131 . The stock had closed at $5.63 on the previous day.

Also, In the latest statement by the brokerage house, BMO Capital upgrades its outlook on Baytex Energy Corp (NYSE:BTE). The current rating of the shares is Market Perform, according to the research report released by the firm. Previously, the company had a rating of Underperform. The rating by the firm was issued on June 30, 2016. The company shares have dropped -59.17% from its 1 Year high price. On Jul 9, 2015, the shares registered one year high at $14.36 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $5.45 and the 200 Day Moving Average price is recorded at $3.82.

Baytex Energy Corp. (Baytex), through its subsidiaries, is engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (primarily in the provinces of Alberta and Saskatchewan) and in the United States (primarily in the state of Texas). The Companys crude oil and natural gas operations are organized into three business units: Central; Lloydminster; and United States. Each business unit has a portfolio of mineral leases, operated and non-operated properties and development prospects. The Companys wholly owned subsidiaries include include Baytex Energy Ltd., which is engaged in the business of oil and natural gas exploration, exploitation, development, acquisition and production in Canada, and Baytex Energy USA, Inc., which is engaged in the business of oil and natural gas exploration, exploitation, development, acquisition and production in the United States.

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