Baytex Energy Corp

BTE-T

TSE:BTE

0.42
0.02 (4.55%)
Baytex Energy Corp. is a Calgary-based Canadian producer, developer and explorer of oil and natural gas. Formerly a trust, it converted to a corporation January 2011 because of government changes to tax incentives.
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Analysis and Opinions about BTE-T

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
July 17, 2019
It has been a while since he held it. He prefers owning the senior producers, when it comes to heavy oil. Their projects have not been well capitalized and they have taken time to get the Duvernay assets incorporated from the Raging River acquisition. Nothing wrong with it and they are paying down debt. There are just better opportunities out there.
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It has been a while since he held it. He prefers owning the senior producers, when it comes to heavy oil. Their projects have not been well capitalized and they have taken time to get the Duvernay assets incorporated from the Raging River acquisition. Nothing wrong with it and they are paying down debt. There are just better opportunities out there.
TOP PICK
TOP PICK
July 15, 2019
Canadian oil stocks are finally seeing what the market wants from them: stop production growth, pay shareholders, buy back shares and pay down debt. Hopefully this translates into higher stock prices. We've seen a massive exodus of investment from this sector. Valuations are cheap enough. (Analysts’ price target is $3.59)
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Canadian oil stocks are finally seeing what the market wants from them: stop production growth, pay shareholders, buy back shares and pay down debt. Hopefully this translates into higher stock prices. We've seen a massive exodus of investment from this sector. Valuations are cheap enough. (Analysts’ price target is $3.59)
COMMENT
COMMENT
July 12, 2019
It's very cheap and profitable. The balance sheet has gotten better. This should trade at $4, though he can't see it happening. The current price is a good entry, but the oil sector needs a catalyst (i.e. pipelines) for this--and other energy stocks--to really move.
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It's very cheap and profitable. The balance sheet has gotten better. This should trade at $4, though he can't see it happening. The current price is a good entry, but the oil sector needs a catalyst (i.e. pipelines) for this--and other energy stocks--to really move.
BUY
BUY
July 11, 2019
Stock had a run, but collapsed when earnings didn't follow. Cheap at $1.68, and he'd buy it.
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Stock had a run, but collapsed when earnings didn't follow. Cheap at $1.68, and he'd buy it.
COMMENT
COMMENT
June 14, 2019
Perception that western Canada is uninvestible. He owns the bonds at 6.5% instead, and he doesn't have to take the equity risk.
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Perception that western Canada is uninvestible. He owns the bonds at 6.5% instead, and he doesn't have to take the equity risk.
DON'T BUY
DON'T BUY
April 30, 2019
It's consolidating and could return to the bottom of its trading range. It's sideways. He's lukewarm on it.
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It's consolidating and could return to the bottom of its trading range. It's sideways. He's lukewarm on it.
PAST TOP PICK
PAST TOP PICK
April 26, 2019
(A Top Pick Dec 14/18, Up 12%) He is surprised it is not getting more favour than it is. He is seeing good exposure to the Duvernay and Eagleford plays. It is trading at a 25% free cash-flow yield. He thinks they could even privatize themselves by buying back their shares.
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(A Top Pick Dec 14/18, Up 12%) He is surprised it is not getting more favour than it is. He is seeing good exposure to the Duvernay and Eagleford plays. It is trading at a 25% free cash-flow yield. He thinks they could even privatize themselves by buying back their shares.
TOP PICK
TOP PICK
April 26, 2019
Because the balance sheet has been repaired, when they trade at a discount to book value they can use free cash flow to buy back shares. They are trading at a 25% free cash flow yield -- in theory they could buy back their shares in 4 years using this strategy. Yield 0%. (Analysts’ price target is $3.90)
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Because the balance sheet has been repaired, when they trade at a discount to book value they can use free cash flow to buy back shares. They are trading at a 25% free cash flow yield -- in theory they could buy back their shares in 4 years using this strategy. Yield 0%. (Analysts’ price target is $3.90)
DON'T BUY
DON'T BUY
April 18, 2019
Not a fan. Debt level is high at 69%. Narrowing differentials is helping. Management increased its pay package, even though stock is on sale at 2 for 1. This isn't right. When you get your proxy, take a stand and make your vote count.
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Not a fan. Debt level is high at 69%. Narrowing differentials is helping. Management increased its pay package, even though stock is on sale at 2 for 1. This isn't right. When you get your proxy, take a stand and make your vote count.
DON'T BUY
DON'T BUY
April 16, 2019
He has a $4.50 target but this pays no dividend. Has owned this in the past. He avoids Canadian oil companies given the lack of capacity, owning only 6% oil mostly outside Canada through the HPF-T. That said, we've seen a rebound in oil prices.
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He has a $4.50 target but this pays no dividend. Has owned this in the past. He avoids Canadian oil companies given the lack of capacity, owning only 6% oil mostly outside Canada through the HPF-T. That said, we've seen a rebound in oil prices.
HOLD
HOLD
March 7, 2019
It's caught in the Canadian oil stock downturn. They cut the dividend. They hold big assets in Texas shale, so there's opportunity there. But the chart shows no sign of perking up. Maybe higher oil prices will help.
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It's caught in the Canadian oil stock downturn. They cut the dividend. They hold big assets in Texas shale, so there's opportunity there. But the chart shows no sign of perking up. Maybe higher oil prices will help.
DON'T BUY
DON'T BUY
March 1, 2019
This is a Canadian energy company. They made an acquisition in the US unfortunately at the top of the cycle. He does not own highly levered oil and gas companies. There are others that are much more attractive. He prefers clean balance sheets.
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This is a Canadian energy company. They made an acquisition in the US unfortunately at the top of the cycle. He does not own highly levered oil and gas companies. There are others that are much more attractive. He prefers clean balance sheets.
DON'T BUY
DON'T BUY
February 11, 2019
In 2015, it traded at $40. At $2 today, he doesn't know what to say about BTE. Its balance sheet is okay, but its intrinsic value is plunging to the dumpster; its balance sheet has been in a four-year decline. He can't say to abandon ship though he can see the stock going lower. The oil patch in general: at least 20 Canadian oil stocks are in the same boat. Either there will be some bankruptcies or the stocks are so cheap we can get one heck of a rally, rising 100-200% quickly.
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Baytex Energy Corp (BTE-T)
February 11, 2019
In 2015, it traded at $40. At $2 today, he doesn't know what to say about BTE. Its balance sheet is okay, but its intrinsic value is plunging to the dumpster; its balance sheet has been in a four-year decline. He can't say to abandon ship though he can see the stock going lower. The oil patch in general: at least 20 Canadian oil stocks are in the same boat. Either there will be some bankruptcies or the stocks are so cheap we can get one heck of a rally, rising 100-200% quickly.
TOP PICK
TOP PICK
January 25, 2019
Has been massively under performing the move on WTI. If you believe $60 WTI, this is a $4 share price, he thinks. You are paying for their existing production, not including future growth or value for their Eagleford assets. They are trading like a bankrupt company. Yield 0%. (Analysts’ price target is $3.77)
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Baytex Energy Corp (BTE-T)
January 25, 2019
Has been massively under performing the move on WTI. If you believe $60 WTI, this is a $4 share price, he thinks. You are paying for their existing production, not including future growth or value for their Eagleford assets. They are trading like a bankrupt company. Yield 0%. (Analysts’ price target is $3.77)
DON'T BUY
DON'T BUY
January 24, 2019
Light oil companies will benefit more from an advance in oil price to $70+ this year. He is concerned, though about the balance sheet here and would pass on it. In a couple of years, all these stocks will go up, however. There are other bargains out there, especially natural gas picks.
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Baytex Energy Corp (BTE-T)
January 24, 2019
Light oil companies will benefit more from an advance in oil price to $70+ this year. He is concerned, though about the balance sheet here and would pass on it. In a couple of years, all these stocks will go up, however. There are other bargains out there, especially natural gas picks.
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