Baytex (BTE) Climbs 25%, Extends 8-Day Run on Bullish Rating

We precocious published 10 Market Movers That Made Millionaires successful a Week. Baytex Energy Corp. (NYSE:BTE) is 1 of the best-performing stocks of the past trading week.

Baytex Energy jumped by 25.4 percent week-on-week aft an eight-day rally boosted by an concern firm’s bullish standing and quality that it was officially exiting the US market.

Earlier this week, Baytex Energy Corp. (NYSE:BTE) said that it signed a definitive statement with an undisclosed purchaser for the merchantability of its Eagle Ford assets for $2.305 billion.

“Monetizing our US Eagle Ford assets strengthens our equilibrium sheet, supports superior allocation to our highest-return opportunities and positions america to present meaningful shareholder returns,” Baytex Energy Corp. (NYSE:BTE) President and CEO Eric Greager said.

The institution added that the transaction would enactment its instrumentality to a nett currency position, proceeds of which volition beryllium utilized to repay its outstanding recognition facilities and notes owed 2030.

The transaction is targeted to beryllium completed by the extremity of the twelvemonth oregon aboriginal adjacent year, taxable to closing conditions and regulatory approvals.

Following the news, Raymond James Financial issued an “outperform” standing connected the stock, oregon higher than the “market perform” previously. It besides raised its terms people to C$5.50 from C$3.50 earlier.

Photo by Zbynek Burival connected Unsplash

Meanwhile, shareholders arsenic of December 15 grounds would expect to receive  C$0.0225 worthy of dividends connected January 2, 2026. For US shareholders, the dividends would beryllium equivalent to $0.0161 per stock assuming a overseas speech complaint of C$1.40.

While we admit the imaginable of BTE arsenic an investment, our condemnation lies successful the content that immoderate AI stocks clasp greater committedness for delivering higher returns and person constricted downside risk. If you are looking for an highly inexpensive AI banal that is besides a large beneficiary of Trump tariffs and onshoring, spot our escaped study connected the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double successful 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This nonfiction is primitively published at Insider Monkey.