Baytex Energy (OTCMKTS:BTEGF) Trading Down 0.8% – What’s Next?

Baytex Energy Corp. (OTCMKTS:BTEGF)’s share price dropped 0.8% during mid-day trading on Thursday . The company traded as low as $3.54 and last traded at $3.56. Approximately 16,901,080 shares traded hands during mid-day trading, an increase of 6,673% from the average daily volume of 249,520 shares. The stock had previously closed at $3.59.

Wall Street Analyst Weigh In

BTEGF has been the subject of several recent research reports. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Baytex Energy in a report on Monday, November 17th. TD Securities reaffirmed a “buy” rating on shares of Baytex Energy in a research note on Tuesday, December 23rd. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Baytex Energy Stock Down 0.8%

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 $1.94 billion, a price-to-earnings ratio of 2.42 and a beta of 2.16. The firm’s 50-day moving average is $3.28 and its 200 day moving average is $2.72.

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.