Company Shares of Baytex Energy Corp Drops by -7.6%

Baytex Energy Corp (NYSE:BTE) has tumbled 7.6% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 19.44% in the last four weeks. The stocks have underperformed the S&P 500 by 6.49% during the past week but Baytex Energy Corp (NYSE:BTE) it has outperformed the index in 4 weeks by 18.36%.

Baytex Energy Corp (NYSE:BTE): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $5.55 and $5.48 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.76. The buying momentum continued till the end and the stock did not give up its gains. It closed at $5.59, notching a gain of 6.27% for the day. The total traded volume was 3,149,411 . The stock had closed at $5.26 on the previous day.

The company shares have dropped -66.43% from its 1 Year high price. On Jun 22, 2015, the shares registered one year high at $17.03 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $5.11 and the 200 Day Moving Average price is recorded at $3.61.

Institutional Investors own 25.87% of Baytex Energy Corp shares.

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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