Baytex Energy Corp (BTE.TO) Buy, Sell or Hold

Baytex Energy Corp (BTE.TO)

6.20

+0.01 (0.16%)

as of Nov 13, 2026, 9:00:00 pm Market Closed.

728 watching

BUY ON WEAKNESS

Recent US acquisition will be hard to digest.
"Show me" stock that has yet to prove itself.
Time will tell whether acquisition will pay itself out.
Wait to buy.

WATCH

Just bought Ranger Oil for $3.4 billion

It has run up 62% in the past 5 years, so maybe leave it for now till it settles. Shares have done very well. There's not much ahead for a company growing a lot. Wait for the dust to settle.

BUY

Largest shareholder of company.
Expects shares to rise to $20 (believes fair price of shares).
Increasing production in Eagle Ford play.
Currently drilled top 15 of all Clearwater oil wells.
Expecting debt to reach target level by Q2.
Has pledged to return 50% of free cash flow yield.
Expecting a 12-20% dividend yield.
Currently mis -priced shares.

TOP PICK

Found new religion in terms of paying down debt. Better growth assets and more light oil assets. Returning money to shareholders. Growth, low valuation, leveraged to oil, more shareholder friendly. No dividend.

(Analysts’ price target is $8.32)

TOP PICK

New CEO is capable and market friendly. Potential to expand Eagleford potential. Clearwater exposure with strong free cash flow yield. Interest falling off the company which creates a buying opportunity. Expecting $20 share price assuming $100 oil. Company is very focused on paying down debt.

TOP PICK

Believes company is executing business plan well. Company has 15 out of the top 15 Clearwater oil wells. Trading at 2x cash flow which presents a good buying opportunity. Expecting large share buybacks going forward.

TOP PICK

Good exposure to the Clearwater play and very economic heavy oil. It is committed to returning much of free cash flow to shareholders in buybacks. Has 40% free cash flow upside. The wells in Alberta are cheap to build and are very productive. Fair value should be $19 per share, a 186% potential upside. Buy 3, Hold 8, Sell 0 (Analysts’ price target is $8.89)

RISKY

Now is a good entry point into this stock, but he's nervous about the direction of energy as we face a possible recession. If you're long term, hold. You can add but if this declines.

TOP PICK

Has drilled 9 of the 10 best wells in the best play in North America. Trading at discount to what company is worth. Expecting company to buy back 18% of shares. Wells paying off in a month. Share price of 5x is fair, or $19. Paying down aggressively.

WAIT

Loves the energy sector, but it's coming into the weakest time of year and starting to see volatility. Economy slowing down will impact the sector more than supply constraints. Hold off until January or February when the sector tends to take off.

TOP PICK

Company provides maximize exposure to energy bull market (drilled 9 of the 10 best wells in most economic play in North America). Trading at 1.9x cash flow & 38% free cash flow. Pledged to buyback stock and return 75% of cash flow to shareholders. 5x multiple of current share price, or $18 share price target is possible. Very under priced energy stock.

PAST TOP PICK

(A Top Pick May 28/21, Up 287%) Drilling oil wells that payback in weeks (1.5 years is average). Largest shareholder of the company. Would have made to top pick, but already have picked company last time. Company aggressively paying down debt. Trading at 2x cash flow and 35% free cash flow yield. Expecting company to start returning capital very soon. Expecting a $14 share price (96% upside).

BUY

Typical of western Canadian companies; a go-to when oil prices rise. He's surprised oil isn't higher given the European situation, but he expects higher prices this year as reopenings spread. Driving season will be strong this year as people travel. All energy remains a good bet, at least short term. Oil has a good, long-term cycle.

WAIT

Handsome dividend was cut. Current oil price won't last forever, so be careful with these oil-centric stocks. Remember, 2 weeks ago the oil price dropped from $130 to 90. Don't buy at this level after the run. Highly levered, no dividend. Things will get attractive again if oil drops below $100, the magic number. You could buy this name then to play the trend or for a trade.

BUY

During Covid, energy stocks were massively undervalued. Also ESG was a negative force on energy stocks. Today, these stocks are catching up, accelerated by war in Ukraine. All Canadian energy stocks will do very well in this market. Expect dividend increases. Caveat: all commodity stocks are volatile and not meant to be held long term.

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Baytex Energy Corp (BTE.TO)