Baytex Energy Corp

BTE-T

TSE:BTE

0.42
0.01 (1.18%)
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
BUY
BUY
October 31, 2008
Extremely good operators. Heavy but flowable oil. Have lots of extra land to drill. Relatively low pay out ratio. Good cash flow. Almost 15% yield.
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Baytex Energy Corp (BTE-T)
October 31, 2008
Extremely good operators. Heavy but flowable oil. Have lots of extra land to drill. Relatively low pay out ratio. Good cash flow. Almost 15% yield.
HOLD
HOLD
October 22, 2008
Some of the better quality royalty trusts that he would continue to hold include Crescent Point (CPG.UN-T), Vermilion (VET.UN-T) and Baytex (BTE.UN-T).
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Baytex Energy Corp (BTE-T)
October 22, 2008
Some of the better quality royalty trusts that he would continue to hold include Crescent Point (CPG.UN-T), Vermilion (VET.UN-T) and Baytex (BTE.UN-T).
TOP PICK
TOP PICK
September 22, 2008
Heavy oil producer. Almost 11% yield. You get paid to wait. Producing without doing any thermal or steaming and only producing about 12% of its available land, so there is potential for huge reserves booking.
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Baytex Energy Corp (BTE-T)
September 22, 2008
Heavy oil producer. Almost 11% yield. You get paid to wait. Producing without doing any thermal or steaming and only producing about 12% of its available land, so there is potential for huge reserves booking.
TOP PICK
TOP PICK
September 5, 2008
Seal pilot well is commercial, which is huge news. Will be 2 or 3 years before full production. This is a huge add to their already huge inventory. Very clean balance sheet. 10% yield. Stable production.
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Baytex Energy Corp (BTE-T)
September 5, 2008
Seal pilot well is commercial, which is huge news. Will be 2 or 3 years before full production. This is a huge add to their already huge inventory. Very clean balance sheet. 10% yield. Stable production.
BUY WEAKNESS
BUY WEAKNESS
August 1, 2008
He is picking away at trusts he likes and tries to Buy on weakness. Buying for yield. Thinks oil and gas will stabilize.
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He is picking away at trusts he likes and tries to Buy on weakness. Buying for yield. Thinks oil and gas will stabilize.
DON'T BUY
DON'T BUY
June 23, 2008
Could double reserves. Stock price showing some of this potential. Getting a little expensive.
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Could double reserves. Stock price showing some of this potential. Getting a little expensive.
TOP PICK
TOP PICK
June 9, 2008
Primarily heavy oil. 40,000 barrels a day. Increased dividend from $.20 to $.25 a month. Good model for other royalty trust. Because cash flows have increased so much they will be able to pay the taxes, capital expenditures and continue to pay out distributions.
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Primarily heavy oil. 40,000 barrels a day. Increased dividend from $.20 to $.25 a month. Good model for other royalty trust. Because cash flows have increased so much they will be able to pay the taxes, capital expenditures and continue to pay out distributions.
WAIT
WAIT
May 23, 2008
Fundamentally what is backing up energy stories is still very much intact. A big believer in energy. In the next week or two, there could be a little pullback, which will give you great entry points.
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Fundamentally what is backing up energy stories is still very much intact. A big believer in energy. In the next week or two, there could be a little pullback, which will give you great entry points.
BUY
BUY
May 16, 2008
Thinks it will benefit a lot from the very small differentials in heavy oil. Relatively low debt.
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Thinks it will benefit a lot from the very small differentials in heavy oil. Relatively low debt.
BUY WEAKNESS
BUY WEAKNESS
May 14, 2008
More exposed to heavy oil. Recent results were very strong. About a 48% payout ratio. Sees a dramatic narrowing of the spreads between heavy and light oil. Hedged some of this with a refinery in the US but a well manage company. Have a lot of land for drilling. At these levels it's a Hold.
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More exposed to heavy oil. Recent results were very strong. About a 48% payout ratio. Sees a dramatic narrowing of the spreads between heavy and light oil. Hedged some of this with a refinery in the US but a well manage company. Have a lot of land for drilling. At these levels it's a Hold.
TOP PICK
TOP PICK
May 13, 2008
Good at keeping production flat with minimal capital spending. Production 40,000 barrels a day, predominantly oil, will cash flow about $1 billion and only need $150 million to keep production flat. Current distributions of about $225 million. More efficient for a trust to pay out more distribution than to spend on drilling. Potential distribution increase. Could do another acquisition. Also un-recognized value for their Seal property.
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Good at keeping production flat with minimal capital spending. Production 40,000 barrels a day, predominantly oil, will cash flow about $1 billion and only need $150 million to keep production flat. Current distributions of about $225 million. More efficient for a trust to pay out more distribution than to spend on drilling. Potential distribution increase. Could do another acquisition. Also un-recognized value for their Seal property.
BUY
BUY
April 16, 2008
Very well run income trust. Focused on heavy oil. Recently made an acquisition of Burmis Energy (BME-T) that adds to their natural gas and light oil production. Good management team.
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Very well run income trust. Focused on heavy oil. Recently made an acquisition of Burmis Energy (BME-T) that adds to their natural gas and light oil production. Good management team.
COMMENT
COMMENT
April 14, 2008
Just made an offer to purchase Burmis Energy (BME-T) 2 weeks ago. These are Pembina assets so it will be a little sizzle. The market had not been enamoured with this story but it is starting to turn around. From a trading point of view, wait for a pullback. Distribution should be safe.
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Just made an offer to purchase Burmis Energy (BME-T) 2 weeks ago. These are Pembina assets so it will be a little sizzle. The market had not been enamoured with this story but it is starting to turn around. From a trading point of view, wait for a pullback. Distribution should be safe.
TOP PICK
TOP PICK
February 29, 2008
Wanted to provide a stock that provided decent income along with some growth. Yield of about 10%. With an oil price of around $100, you have a company that has been replacing reserves. NAV of over $24. Gives some good upside in terms of growth.
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Baytex Energy Corp (BTE-T)
February 29, 2008
Wanted to provide a stock that provided decent income along with some growth. Yield of about 10%. With an oil price of around $100, you have a company that has been replacing reserves. NAV of over $24. Gives some good upside in terms of growth.
WAIT
WAIT
February 26, 2008
Has a bias towards heavy oil. Into the heavy oil project at Seal. Prefers over Penn West (PWT.UN-T). Following 2011, the cash taxes will be mitigated to a great degree by preservation of tax pools in the period leading up to 2011. If you are into market timing, you may want to wait until the snow clears.
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Baytex Energy Corp (BTE-T)
February 26, 2008
Has a bias towards heavy oil. Into the heavy oil project at Seal. Prefers over Penn West (PWT.UN-T). Following 2011, the cash taxes will be mitigated to a great degree by preservation of tax pools in the period leading up to 2011. If you are into market timing, you may want to wait until the snow clears.
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