Baytex Energy (TSE:BTE) Reaches New 52-Week High at $2.59

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) reached a new 52-week high on Monday . The company traded as high as C$2.59 and last traded at C$2.59, with a volume of 6080019 shares traded. The stock had previously closed at C$2.36.

A number of equities research analysts recently issued reports on BTE shares. BMO Capital Markets upped their price objective on shares of Baytex Energy from C$1.75 to C$2.75 and gave the stock a “na” rating in a report on Monday, June 21st. Raymond James restated an “outperform” rating and set a C$3.50 price target on shares of Baytex Energy in a report on Friday, September 3rd. Royal Bank of Canada upped their price target on shares of Baytex Energy from C$1.80 to C$2.20 and gave the company a “sector perform” rating in a report on Monday, June 7th. Scotiabank upped their price target on shares of Baytex Energy from C$2.25 to C$2.75 in a report on Thursday, July 15th. Finally, CIBC restated a “hold” rating and set a C$3.00 price target on shares of Baytex Energy in a report on Thursday, September 2nd. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$2.26.

The stock’s 50-day moving average price is C$2.18 and its 200 day moving average price is C$1.86. The firm has a market cap of C$1.50 billion and a price-to-earnings ratio of 1.23. The company has a quick ratio of 0.41, a current ratio of 0.43 and a debt-to-equity ratio of 99.88.

In other news, Director Mark Bly acquired 25,000 shares of the company’s stock in a transaction dated Tuesday, August 3rd. The stock was bought at an average price of C$2.27 per share, with a total value of C$56,760.00. Following the completion of the acquisition, the director now owns 378,353 shares in the company, valued at approximately C$859,012.65. Also, Senior Officer Edward David Lafehr acquired 15,000 shares of the company’s stock in a transaction dated Thursday, September 9th. The shares were purchased at an average cost of C$2.28 per share, with a total value of C$34,200.00. Following the acquisition, the insider now owns 1,142,561 shares of the company’s stock, valued at approximately C$2,605,039.08. Insiders purchased 47,000 shares of company stock valued at $106,920 in the last three months.

About Baytex Energy (TSE:BTE)

Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas. Its principal oil and natural gas properties include the Eagle Ford property in Texas, Viking and Lloydminster properties in Alberta and Saskatchewan, Peace River and Duvernay properties in Alberta.

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