Baytex Energy (OTCMKTS:BTEGF) Stock Price Up 2.4% – Here’s What Happened

Baytex Energy Corp. (OTCMKTS:BTEGF)’s stock price rose 2.4% during mid-day trading on Friday . The stock traded as high as $4.35 and last traded at $4.31. Approximately 16,557,218 shares were traded during mid-day trading, an increase of 6,536% from the average daily volume of 249,520 shares. The stock had previously closed at $4.21.

Analysts Set New Price Targets

Separately, TD Securities restated a “buy” rating on shares of Baytex Energy in a research report on Tuesday, December 23rd. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Baytex Energy Price Performance

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 company has a 50-day moving average price of $3.99 and a 200-day moving average price of $3.31. The firm has a market capitalization of $2.35 billion, a PE ratio of 2.93 and a beta of 2.16.

About Baytex Energy

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.