Baytex Energy (OTCMKTS:BTEGF) Trading Down 2.4% – Time to Sell?

Baytex Energy Corp. (OTCMKTS:BTEGF)’s stock price traded down 2.4% during mid-day trading on Wednesday . The company traded as low as $3.30 and last traded at $3.30. 13,679,937 shares were traded during trading, an increase of 5,383% from the average session volume of 249,520 shares. The stock had previously closed at $3.38.

Wall Street Analyst Weigh In

BTEGF has been the subject of several recent research reports. CIBC reiterated a “neutral” rating on shares of Baytex Energy in a research note on Monday, November 17th. Scotiabank reaffirmed a “sector perform” rating on shares of Baytex Energy in a report on Thursday, October 9th. Finally, TD Securities reissued a “buy” rating on shares of Baytex Energy in a report on Tuesday, December 23rd. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Baytex Energy Price Performance

The firm has a market capitalization of $1.80 billion, a P/E ratio of 2.24 and a beta of 2.16. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $3.19 and its 200-day moving average is $2.56.

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.