Baytex Energy (OTCMKTS:BTEGF) Trading 3.1% Higher – Time to Buy?

Baytex Energy Corp. (OTCMKTS:BTEGF)’s stock price traded up 3.1% during mid-day trading on Thursday . The stock traded as high as $3.99 and last traded at $3.98. 19,132,792 shares traded hands during trading, an increase of 7,568% from the average session volume of 249,520 shares. The stock had previously closed at $3.86.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. TD Securities reiterated a “buy” rating on shares of Baytex Energy in a research note on Tuesday, December 23rd. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Baytex Energy in a report on Monday, November 17th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Baytex Energy Trading Up 3.1%

The stock has a market cap of $2.17 billion, a P/E ratio of 2.71 and a beta of 2.16. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 0.81. The firm’s fifty day simple moving average is $3.45 and its 200-day simple moving average is $2.89.

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.