Baytex Energy (OTCMKTS:BTEGF) Shares Up 3.1% – What’s Next?

Baytex Energy Corp. (OTCMKTS:BTEGF)’s share price traded up 3.1% on Thursday . The stock traded as high as $3.99 and last traded at $3.98. 19,132,792 shares traded hands during mid-day 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

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

Baytex Energy Stock Performance

The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 2.69 and a beta of 2.16. The stock has a 50-day moving average of $3.47 and a 200-day moving average of $2.91. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 0.81.

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.