Could Baytex Energy Corporation (NYSE:BTE) Skyrocket? The Stock Had Too Little Sellers

June 19, 2017 - By Nellie Frank

 Could Baytex Energy Corporation (NYSE:BTE) Skyrocket? The Stock Had Too Little Sellers

The stock of Baytex Energy Corporation (NYSE:BTE) registered a decrease of 6.11% in short interest. BTE’s total short interest was 23.23 million shares in June as published by FINRA. Its down 6.11% from 24.74 million shares, reported previously. With 1.67 million shares average volume, it will take short sellers 14 days to cover their BTE’s short positions. The short interest to Baytex Energy Corporation’s float is 10.05%.

About 439,617 shares traded. Baytex Energy Corp (USA) (NYSE:BTE) has declined 26.24% since June 19, 2016 and is downtrending. It has underperformed by 42.94% the S&P500.

Baytex Energy Corp. 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 has market cap of $623.63 million. The Company’s natural gas and crude oil activities are organized into four business units: Lloydminster, Peace River, Conventional and United States. It currently has negative earnings. Each business unit has a portfolio of mineral leases, operated and non-operated properties and development prospects.

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

Among 8 analysts covering Baytex Energy Trust (NYSE:BTE), 1 have Buy rating, 1 Sell and 6 Hold. Therefore 13% are positive. Baytex Energy Trust had 20 analyst reports since July 21, 2015 according to SRatingsIntel. The firm earned “Sector Perform” rating on Monday, August 24 by Altacorp. The stock of Baytex Energy Corp (USA) (NYSE:BTE) earned “Sector Perform” rating by IBC on Wednesday, September 23. Barclays Capital maintained Baytex Energy Corp (USA) (NYSE:BTE) on Friday, July 29 with “Equal-Weight” rating. BMO Capital Markets initiated the shares of BTE in report on Thursday, January 14 with “Underperform” rating. As per Monday, August 24, the company rating was downgraded by National Bank Canada. The rating was maintained by FirstEnergy Capital on Monday, August 31 with “Market Perform”. The firm earned “Equal-Weight” rating on Monday, August 24 by Barclays Capital. The firm has “Market Perform” rating by Raymond James given on Wednesday, August 26. On Monday, August 24 the stock rating was upgraded by Canaccord Genuity to “Buy”. As per Friday, August 21, the company rating was maintained by Scotia Capital.

More notable recent Baytex Energy Corp (USA) (NYSE:BTE) news were published by: Fool.ca which released: “Baytex Energy Corp. Tanks 7%: Time to Buy?” on May 26, 2017, also Fool.ca with their article: “Oil Investors: Penn West Petroleum Ltd. or Baytex Energy Corp.?” published on June 09, 2017, Fool.ca published: “Is Baytex Energy Corp. Doomed to Fail?” on June 06, 2017. More interesting news about Baytex Energy Corp (USA) (NYSE:BTE) were released by: Fool.ca and their article: “2 Big Reasons Baytex Energy Corp. Has 80% Upside From Current Levels” published on March 14, 2017 as well as Seekingalpha.com‘s news article titled: “Baytex Energy Corporation: Management Needs To Move Fast” with publication date: April 03, 2017.

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