Baytex Energy (OTCMKTS:BTEGF) Trading Up 1.6% – Should You Buy?

Baytex Energy Corp. (OTCMKTS:BTEGF)’s stock price was up 1.6% during trading on Tuesday . The stock traded as high as $3.22 and last traded at $3.17. Approximately 16,207,242 shares traded hands during trading, an increase of 6,395% from the average daily volume of 249,520 shares. The stock had previously closed at $3.12.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. TD Securities reaffirmed a “buy” rating on shares of Baytex Energy in a research note on Tuesday, December 23rd. CIBC reaffirmed a “neutral” rating on shares of Baytex Energy in a research report on Monday, November 17th. Finally, Scotiabank reissued a “sector perform” rating on shares of Baytex Energy in a research report on Thursday, October 9th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Baytex Energy Trading Up 1.6%

The firm has a fifty day moving average of $2.90 and a 200 day moving average of $2.41. The firm has a market capitalization of $1.73 billion, a PE ratio of 2.16 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.

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.