Baytex Energy Corp. (NYSE:BTE) is a stock to watch today. At current price of $1.95, the shares have already lost -0.05 points (-2.75% lower) from its previous close of $2. The stock sets an active trading volume day with a reported 696074 contracts so far this session. BTE shares had a relatively better volume day versus average trading capacity of 1.99 million shares, but with a 0.54 billion float and a -3.85% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for BTE stock indicates that the average analyst price target is $3.94 per share. This means the stock has a potential increase of 102.05% from where the BTE share price has been trading recently which is between $1.985 and $2.08. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $2.5.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Why Baytex Energy Shares Popped 13% Today” and dated May 03, 2019.
During the recent trading session for Baytex Energy Corp. (NYSE:BTE), the company witnessed their stock drop by $-0.11 over a week and tumble down $-0.14 from the price 20 days ago. When compared to their established 52-week high of $4.78, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 05/22/18. The recent low of $1.38 stood for a -59.31% since 12/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.58 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Baytex Energy Corp., the two-week RSI stands at 46.15. This figure suggests that BTE stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current BTE readings is similarly very revealing as it has a stochastic reading of 52.75% at this stage. This figure means that BTE share price today is being neutral.
Technical chart claims that Baytex Energy Corp. (BTE) would settle between $2.06/share to $2.12/share level. However, if the stock price goes below the $1.96 mark, then the market for Baytex Energy Corp. becomes much weaker. If that happens, the stock price might even plunge as low as $1.93 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.03. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Macquarie raised their recommendation on shares of BTE from Neutral to Outperform in their opinion released on March 07. Macquarie analysts have lowered their rating of Baytex Energy Corp. (NYSE:BTE) stock from Outperform to Neutral in a separate flash note issued to investors on January 18. Analysts at Raymond James released an upgrade from Mkt Perform to Outperform for the stock, in a research note that dated back to November 05.
BTE equity has an average rating of 2.12, with the figure leaning towards a bullish end. 16 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 14 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 13 analysts rated Baytex Energy Corp. (NYSE:BTE) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, BTE stock price is currently trading at 18.02X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.12 while for the average stock in the same group, the multiple is 99.85.