The stock of Baytex Energy Corp (USA) (NYSE:BTE) is a huge mover today! About 1.05M shares traded hands. Baytex Energy Corp (USA) (NYSE:BTE) has declined 15.27% since April 13, 2016 and is downtrending. It has underperformed by 19.19% the S&P500.
The move comes after 7 months positive chart setup for the $885.62 million company. It was reported on Nov, 15 by Barchart.com. We have $6.93 PT which if reached, will make NYSE:BTE worth $611.08 million more.
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. Canaccord Genuity upgraded the shares of BTE in a report on Monday, August 24 to “Buy” rating. On Monday, August 24 the stock rating was downgraded by National Bank Canada to “Sector Perform”. Raymond James maintained Baytex Energy Corp (USA) (NYSE:BTE) rating on Wednesday, August 26. Raymond James has “Market Perform” rating and $11 price target. Barclays Capital maintained Baytex Energy Corp (USA) (NYSE:BTE) on Monday, August 24 with “Equal-Weight” rating. Barclays Capital maintained it with “Equal-Weight” rating and $8 target price in Friday, July 29 report. The rating was initiated by RBC Capital Markets on Monday, December 7 with “Sector Perform”. On Monday, August 31 the stock rating was maintained by FirstEnergy Capital with “Market Perform”. BMO Capital Markets initiated the stock with “Underperform” rating in Thursday, January 14 report. The firm earned “Outperform” rating on Friday, August 21 by Scotia Capital. As per Monday, August 24, the company rating was downgraded by Altacorp.
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: “Why Baytex Energy Corp. Stands to Gain From a Trump Presidency” on November 11, 2016, also Fool.ca with their article: “2 Reasons Baytex Energy Corp. Shares Have Bottomed” published on November 09, 2016, Fool.ca published: “Baytex Energy Corp.: Don’t Miss the Rebound” on November 03, 2016. More interesting news about Baytex Energy Corp (USA) (NYSE:BTE) were released by: Fool.ca and their article: “Baytex Energy Corp.: Is the Latest Pullback an Opportunity to Buy?” published on September 26, 2016 as well as Fool.ca‘s news article titled: “Baytex Energy Corp.: Should You Buy the Bounce?” with publication date: October 06, 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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