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Stock impact report

Baytex (BTE) Climbs 25%, Extends 8-Day Run on Bullish Rating [Yahoo! Finance]

Baytex Energy Corp Common Shares (BTE) 
Last baytex energy corp common shares earnings: 3/4 06:30 am Check Earnings Report
Company Research Source: Yahoo! Finance
Baytex Energy jumped by 25.4 percent week-on-week after an eight-day rally boosted by an investment firm's bullish rating and news that it was officially exiting the US market. Earlier this week, Baytex Energy Corp. (NYSE:BTE) said that it signed a definitive agreement with an undisclosed buyer for the sale of its Eagle Ford assets for $2.305 billion. “Monetizing our US Eagle Ford assets strengthens our balance sheet, supports capital allocation to our highest-return opportunities and positions us to deliver meaningful shareholder returns,” Baytex Energy Corp. (NYSE:BTE) President and CEO Eric Greager said. The company added that the transaction would support its return to a net cash position, proceeds of which will be used to repay its outstanding credit facilities and notes due 2030. The transaction is targeted to be completed by the end of the year or early next year, subject to closing conditions and regulatory approvals. Following the news, Raymond James Financial issu Show less Read more
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