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TSE:BTE
This summary was created by AI, based on 22 opinions in the last 12 months.
Baytex Energy Corp (BTE-T) is undergoing a significant transformation by refocusing its operations in Canada, which has been well-received by industry experts. The company has demonstrated strong financial discipline by selling off underperforming U.S. assets and using the proceeds to reduce debt, leading to a cash position of around $500M to $900M. Analysts appreciate the new CEO's commitment to taking his salary in stock options, indicating confidence in the company's future. While there is optimism about the potential for share buybacks and operational efficiencies, some experts express concerns regarding the overall inventory depth and the company's ability to compete with larger energy players. Overall, the sentiment is cautiously optimistic, suggesting potential upside for dividend-conscious investors.
6.6% bond maturing 2021? This is unrated and is low-quality. Long-term for a convertible. When small companies have bonds coming due, they call them and then reissue longer-term ones to put off the need to put a lot of capital in to pay off debt. If you own, check out the conversion premium and the yield advantage over the common underlying. High risk. Better places to be.
Nice dividend payer. Price has come down a fair bit recently with the pull back in oil and gas stocks. Great track record of growing and continuing to pay out a steady distribution.