What’s Ahead for Baytex Energy Corporation (NYSE:BTE) After More Shorted Shares?

September 17, 2017 - By Louis Casey

 What’s Ahead for Baytex Energy Corporation (NYSE:BTE) After More Shorted Shares?

The stock of Baytex Energy Corporation (NYSE:BTE) registered an increase of 1.81% in short interest. BTE’s total short interest was 21.00 million shares in September as published by FINRA. Its up 1.81% from 20.63M shares, reported previously. With 1.24M shares average volume, it will take short sellers 17 days to cover their BTE’s short positions. The short interest to Baytex Energy Corporation’s float is 9.09%.

The stock decreased 3.56% or $0.1 on September 15, reaching $2.71. About 1.30M shares traded or 0.78% up from the average. Baytex Energy Corp (USA) (NYSE:BTE) has declined 26.24% since September 17, 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 $640.40 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 9 analysts covering Baytex Energy Trust (NYSE:BTE), 1 have Buy rating, 1 Sell and 7 Hold. Therefore 11% are positive. Baytex Energy Trust had 21 analyst reports since July 21, 2015 according to SRatingsIntel. Barclays Capital maintained the shares of BTE in report on Friday, July 29 with “Equal-Weight” rating. The firm has “Buy” rating given on Monday, August 24 by Canaccord Genuity. RBC Capital Markets initiated Baytex Energy Corp (USA) (NYSE:BTE) rating on Monday, December 7. RBC Capital Markets has “Sector Perform” rating and $8 target. The rating was maintained by Scotia Capital with “Outperform” on Friday, August 21. The rating was downgraded by National Bank Canada to “Sector Perform” on Monday, August 24. The stock has “Sector Perform” rating by IBC on Wednesday, September 23. Scotia Capital downgraded the shares of BTE in report on Thursday, June 29 to “Sector Perform” rating. On Thursday, January 14 the stock rating was initiated by BMO Capital Markets with “Underperform”. Barclays Capital maintained Baytex Energy Corp (USA) (NYSE:BTE) rating on Monday, August 24. Barclays Capital has “Equal-Weight” rating and $9 target. The firm earned “Sector Perform” rating on Monday, August 24 by Altacorp.

More notable recent Baytex Energy Corp (USA) (NYSE:BTE) news were published by: Fool.ca which released: “Baytex Energy Corp. Surges 15% in 2 Days: Time to Buy?” on July 31, 2017, also Fool.ca with their article: “Should Baytex Energy Corp. Be on Your Buy List Right Now?” published on September 06, 2017, Fool.ca published: “Crescent Point Energy Corp. or Baytex Energy Corp.: Which One is Worth A Shot …” on August 28, 2017. More interesting news about Baytex Energy Corp (USA) (NYSE:BTE) were released by: Fool.ca and their article: “What’s the Worst-Case Scenario for Baytex Energy Corp.?” published on July 05, 2017 as well as Fool.ca‘s news article titled: “If Oil Turns, Baytex Energy Corp. Could Be the Biggest Gainer!” with publication date: August 04, 2017.

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