Market Runner: Is Buying Baytex Energy Corp (USA) Here a Winning Strategy?

Market Runner: Is Buying Baytex Energy Corp (USA) Here a Winning Strategy?

The stock of Baytex Energy Corp (USA) (NYSE:BTE) is a huge mover today! About 1.14M shares traded hands. Baytex Energy Corp (USA) (NYSE:BTE) has risen 8.64% since March 16, 2016 and is uptrending. It has outperformed by 3.10% the S&P500.
The move comes after 6 months positive chart setup for the $960.04 million company. It was reported on Oct, 19 by Barchart.com. We have $7.01 PT which if reached, will make NYSE:BTE worth $528.02 million more.

Analysts await Baytex Energy Corp (USA) (NYSE:BTE) to report earnings on November, 4. They expect $-0.12 earnings per share, down 33.33% or $0.03 from last year’s $-0.09 per share. After $-0.11 actual earnings per share reported by Baytex Energy Corp (USA) for the previous quarter, Wall Street now forecasts 9.09% negative EPS growth.

Baytex Energy Corp (USA) (NYSE:BTE) Ratings Coverage

Out of 8 analysts covering Baytex Energy Trust (NYSE:BTE), 1 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 13% are positive. Baytex Energy Trust has been the topic of 20 analyst reports since July 21, 2015 according to StockzIntelligence Inc. National Bank Canada downgraded the shares of BTE in a report on Monday, August 24 to “Sector Perform” rating. The stock has “Sector Perform” rating given by Altacorp on Monday, August 24. IBC downgraded the stock to “Sector Perform” rating in Wednesday, September 23 report. The stock of Baytex Energy Corp (USA) (NYSE:BTE) has “Sector Perform” rating given on Monday, December 7 by RBC Capital Markets. Scotia Capital maintained it with “Outperform” rating and $18 target price in Friday, August 21 report. The firm earned “Equal-Weight” rating on Friday, July 29 by Barclays Capital. Raymond James maintained the shares of BTE in a report on Wednesday, August 26 with “Market Perform” rating. On Thursday, January 14 the stock rating was initiated by BMO Capital Markets with “Underperform”. The firm earned “Market Perform” rating on Monday, August 31 by FirstEnergy Capital. The stock of Baytex Energy Corp (USA) (NYSE:BTE) earned “Equal-Weight” rating by Barclays Capital on Monday, August 24.

According to Zacks Investment Research, “Baytex Energy Trust is a conventional oil and gas income trust focused on maintaining its production and asset base through internal property development and delivering consistent returns to its unitholders.”

More notable recent Baytex Energy Corp (USA) (NYSE:BTE) news were published by: Fool.ca which released: “Could Baytex Energy Corp. Rebound to $12?” on October 17, 2016, also Fool.ca with their article: “Baytex Energy Corp.: A Buy Despite its Huge Debt Load” published on October 13, 2016, Fool.ca published: “The Only 2 Reasons to Buy Baytex Energy Corp.” on October 12, 2016. More interesting news about Baytex Energy Corp (USA) (NYSE:BTE) were released by: Fool.ca and their article: “Crescent Point Energy Corp. vs. Baytex Energy Corp.: Which Will Outperform in …” published on October 11, 2016 as well as Cbc.ca‘s news article titled: “Damaged valve, safeguard ‘failure’ blamed in Baytex oil tank explosions” with publication date: October 18, 2016.

BTE Company Profile

Baytex Energy Corp. (Baytex), incorporated on October 22, 2010, is engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (Alberta and Saskatchewan) and in the United States (Texas). The Company’s natural gas and crude oil activities are organized into three business units: Lloydminster, Central and United States. Each business unit has a portfolio of mineral leases, operated and non-operated properties and development prospects. The Company’s subsidiaries include Baytex Energy Ltd. and Baytex Energy USA, Inc. Baytex Energy Ltd. is engaged in the business of oil and natural gas exploration, exploitation, development, acquisition and production in Canada. Baytex Energy USA, Inc. is engaged in the business of oil and natural gas exploration, exploitation, development, acquisition and production in the United States. It holds all of the operating assets in the United States.

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