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
SPECULATIVE BUY
SPECULATIVE BUY
August 9, 2018

A highly levered oil name. When the oil price moves, it moves with it. It is a pretty high debt name. You could probably make some money here. It is not a name the masses would want to own because of the volatility. It will be tough for it to get back to the previous highs. It will probably not be a positive in that they are merging with RRX-T, Raging River.

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A highly levered oil name. When the oil price moves, it moves with it. It is a pretty high debt name. You could probably make some money here. It is not a name the masses would want to own because of the volatility. It will be tough for it to get back to the previous highs. It will probably not be a positive in that they are merging with RRX-T, Raging River.

WATCH
WATCH
August 2, 2018

This is one of the companies that he follows to some degree. It is possible toward the end of the year he might hone in on it more closely. With all of these companies, take a look at debt load relative to revenues. He may buy it later in the year, depending on his firm's analysis

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This is one of the companies that he follows to some degree. It is possible toward the end of the year he might hone in on it more closely. With all of these companies, take a look at debt load relative to revenues. He may buy it later in the year, depending on his firm's analysis

PAST TOP PICK
PAST TOP PICK
July 31, 2018

(A Top Pick August 3/2017, Up 12%) Still trading at a discount. If I can get 12% out of a bond, why would I buy equity? Less risky to own the bond than the stock. Buying the stock would need the price of oil to go up, guaranteed.

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(A Top Pick August 3/2017, Up 12%) Still trading at a discount. If I can get 12% out of a bond, why would I buy equity? Less risky to own the bond than the stock. Buying the stock would need the price of oil to go up, guaranteed.

DON'T BUY
DON'T BUY
July 30, 2018

It is challenged like CPG-T in that there is excess capacity and not enough sales. He can't comment on the merger as he is not an M&A expert.

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It is challenged like CPG-T in that there is excess capacity and not enough sales. He can't comment on the merger as he is not an M&A expert.

TOP PICK
TOP PICK
July 20, 2018

Merger is not popular with Raging River shareholders. However, Baytex shareholders are saying it is a wonderful deal. Have added a free cash flow machine in their Viking asset. This name has been beaten down by Raging River shareholders. The deal gets voted on mid August. At $70 oil he has a $7.00 target and at $80 oil he has a $10.00 target. That is 60% to 130% upside. (Analysts’ price target is $6.00)

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Merger is not popular with Raging River shareholders. However, Baytex shareholders are saying it is a wonderful deal. Have added a free cash flow machine in their Viking asset. This name has been beaten down by Raging River shareholders. The deal gets voted on mid August. At $70 oil he has a $7.00 target and at $80 oil he has a $10.00 target. That is 60% to 130% upside. (Analysts’ price target is $6.00)

DON'T BUY
DON'T BUY
July 16, 2018

They are making the acquisition of Raging River (RRX-T). Raging River will control the merged company afterwards. BTE-T has had quite a few problems. Both stocks reacted negatively when the deal was announced so he would stay away from it.

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They are making the acquisition of Raging River (RRX-T). Raging River will control the merged company afterwards. BTE-T has had quite a few problems. Both stocks reacted negatively when the deal was announced so he would stay away from it.

DON'T BUY
DON'T BUY
July 5, 2018

They got themselves in trouble when they over paid for an acquisition. This one has a hill to climb so it is a question of how long you are prepared to wait it out. Ultimately you will be rewarded. There are better names to invest in, however.

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They got themselves in trouble when they over paid for an acquisition. This one has a hill to climb so it is a question of how long you are prepared to wait it out. Ultimately you will be rewarded. There are better names to invest in, however.

COMMENT
COMMENT
June 29, 2018

Bought Raging River, multiple is in line, and they have decent growth. Market thinks they overpaid for Raging River, but if you buy good rocks, you’re going to get a good result.

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Bought Raging River, multiple is in line, and they have decent growth. Market thinks they overpaid for Raging River, but if you buy good rocks, you’re going to get a good result.

DON'T BUY
DON'T BUY
June 21, 2018

RRX-X amalgamation. Both went down when they announced the merger. This is unusual. There are a lot of costs involved in a merger for a quarter or three. He does not like all-paper transactions.

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RRX-X amalgamation. Both went down when they announced the merger. This is unusual. There are a lot of costs involved in a merger for a quarter or three. He does not like all-paper transactions.

DON'T BUY
DON'T BUY
June 18, 2018

BTE-T vs. RRX-T. RRX-T has been taken out by BTE-T. One analyst says you will now own a company with a much higher debt. BTE-T is a zombie company because of debt. 78% debt to equity last time he talked about it. After the deal RRX-T will have a huge increase in production. If you believe in $80 oil by year end then this a good leveraged play on oil. He thinks we will below $60, the problem is that this stock is too levered. It will be at 75% debt to equity. The market is voting negatively on the deal.

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BTE-T vs. RRX-T. RRX-T has been taken out by BTE-T. One analyst says you will now own a company with a much higher debt. BTE-T is a zombie company because of debt. 78% debt to equity last time he talked about it. After the deal RRX-T will have a huge increase in production. If you believe in $80 oil by year end then this a good leveraged play on oil. He thinks we will below $60, the problem is that this stock is too levered. It will be at 75% debt to equity. The market is voting negatively on the deal.

TOP PICK
TOP PICK
June 11, 2018

Texas and heavy oil in Canada. Their price for oil is more linked to Louisiana than to Canada. (Analysts’ target: $6.09).

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Texas and heavy oil in Canada. Their price for oil is more linked to Louisiana than to Canada. (Analysts’ target: $6.09).

COMMENT
COMMENT
May 31, 2018

Baytex versus HMMJ. There is no correlation between these two. BTE-T looks fine technically as he thinks WTI should return back above $70 before year end. The recent breakout is positive, especially since it was basing around $3.50. He does not understand the cannabis market, so can’t render an opinion. “You can’t make an iPhone in your basement, but you can grow marijuana.” He thinks demand is already met, so he would only hold a small lot of HMMJ-T to talk about at cocktail parties.

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Baytex versus HMMJ. There is no correlation between these two. BTE-T looks fine technically as he thinks WTI should return back above $70 before year end. The recent breakout is positive, especially since it was basing around $3.50. He does not understand the cannabis market, so can’t render an opinion. “You can’t make an iPhone in your basement, but you can grow marijuana.” He thinks demand is already met, so he would only hold a small lot of HMMJ-T to talk about at cocktail parties.

PAST TOP PICK
PAST TOP PICK
May 29, 2018

(A Top Pick June 1/17, Up 7%) BAYTEX BOND 6.625% A bond that offers a return like a stock. In 2014, Baytext stock got hammered and the bonds got hurt too when oil plunged. That was an opportunity and he's done well by this. Compared to the Baytex stock which is tied to oil's ups and downs, the bond is a quiet ride that enjoys an 8% return.

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(A Top Pick June 1/17, Up 7%) BAYTEX BOND 6.625% A bond that offers a return like a stock. In 2014, Baytext stock got hammered and the bonds got hurt too when oil plunged. That was an opportunity and he's done well by this. Compared to the Baytex stock which is tied to oil's ups and downs, the bond is a quiet ride that enjoys an 8% return.

COMMENT
COMMENT
May 25, 2018

One of the heavy oil producers. They made an acqusition of Aurora at the wrong time, so they got stuck with bad oil prices and wound up with a rocky balance sheet. The oil differentials have recently narrowed in their favour, but analysts expect them to expand back over the summer. The balance sheet has improved.

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One of the heavy oil producers. They made an acqusition of Aurora at the wrong time, so they got stuck with bad oil prices and wound up with a rocky balance sheet. The oil differentials have recently narrowed in their favour, but analysts expect them to expand back over the summer. The balance sheet has improved.

STRONG BUY
STRONG BUY
May 4, 2018

This is one of the go to names for beta to oil. It only trades 4.1 times EBITDA and has over 130% of upside if WTI goes to $80. Their Eagleford results have been good, but not enough to move the needle. If you are bullish on oil, this is definitely a name to go with.

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This is one of the go to names for beta to oil. It only trades 4.1 times EBITDA and has over 130% of upside if WTI goes to $80. Their Eagleford results have been good, but not enough to move the needle. If you are bullish on oil, this is definitely a name to go with.

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