Baytex Energy (OTCMKTS:BTEGF) Trading Up 1.6% – Here’s What Happened

Baytex Energy Corp. (OTCMKTS:BTEGF)’s share price was up 1.6% during mid-day trading on Tuesday . The stock traded as high as $3.22 and last traded at $3.17. Approximately 16,207,242 shares changed hands during trading, an increase of 6,395% from the average daily volume of 249,520 shares. The stock had previously closed at $3.12.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Scotiabank reissued a “sector perform” rating on shares of Baytex Energy in a research report on Thursday, October 9th. CIBC reaffirmed a “neutral” rating on shares of Baytex Energy in a research note on Monday, November 17th. Finally, TD Securities reissued a “buy” rating on shares of Baytex Energy in a research note on Tuesday, December 23rd. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Baytex Energy presently has a consensus rating of “Hold”.

Baytex Energy Stock Up 1.6%

The company has a debt-to-equity ratio of 0.40, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 2.16 and a beta of 2.16. The firm’s 50-day moving average is $2.90 and its 200 day moving average is $2.41.

Baytex Energy Company Profile

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.