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

Key Points

• Shares rose 3.1% intraday to about $3.98–$3.99 on extremely heavy volume (19,132,792 shares), roughly a 7,568% jump versus average session volume.
• Analysts are mixed but leaning positive: two Buy and two Hold ratings give an average consensus of "Moderate Buy", with TD Securities reiterating a Buy and CIBC remaining neutral.
• The company shows a market cap of $2.17 billion and a very low P/E ratio of 2.71, with modest leverage (debt-to-equity 0.40) but liquidity metrics under 1 (current and quick ratio 0.81).

Baytex Energy Corp. (OTCMKTS:BTEGF - Get Free Report)'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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.