NEW YORK ( TheStreet) -- Baytex Energy (NYSE: BTE) hit a new 52-week high Friday as it is currently trading at $61.63, above its previous 52-week high of $61.61 with 119,379 shares traded as of 3:09 p.m. ET. Average volume has been 252,700 shares over the past 30 days.

Baytex Energy has a market cap of $7 billion and is part of the basic materials sector and energy industry. Shares are up 31.2% year to date as of the close of trading on Thursday.

Baytex Energy Corp., through its subsidiaries, engages in acquiring, developing, exploiting, and holding interests in petroleum and natural gas properties and assets in Canada and the United States. The company has a P/E ratio of 39.4, above the average energy industry P/E ratio of 39.1 and above the S&P 500 P/E ratio of 17.
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TheStreet Ratings rates Baytex Energy as a buy. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, impressive record of earnings per share growth, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Baytex Energy Ratings Report.

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