Baytex Energy Corp. (BTE) saw a big move last session, as the company’s shares fell by over 11% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for BTE, as the stock is now down 40% in the past one-month time frame.
The company has seen a mixed track record when it comes to current year estimate revisions over the past few weeks (1 increase, no decrease), and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch of this firm in the near future, and especially on earnings estimates following the recent slump.
BTE currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Some better-ranked stocks in the Oils-Energy sector include Alon USA Partners, LP (ALDW), Cheniere Energy Partners LP. (CQP) and Murphy USA Inc. (MUSA). All these stocks hold a Zacks Rank #1 (Strong Buy).
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