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Baytex Energy Corp T.BTE

Alternate Symbol(s):  BTE

Baytex Energy Corp. is a Canada-based energy company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Its crude oil and natural gas operations are organized into three main operating areas: Light Oil USA (Eagle Ford), Light Oil Canada (Pembina Duvernay / Viking) and Heavy Oil Canada (Peace River / Peavine / Lloydminster). Its Eagle Ford assets are located in the core of the liquids-rich Eagle Ford shale in South Texas. The Eagle Ford shale covers approximately 162,000 net acres of crude oil operations. Its Viking assets are located in the Dodsland area in southwest Saskatchewan and in the Esther area of southeastern Alberta. It also holds 100% working interest land position in the East Duvernay resource play in central Alberta.


TSX:BTE - Post by User

Post by riskion Dec 08, 2023 3:21pm
375 Views
Post# 35775503

Volatility

VolatilityBTE was punished more in the last week than any other oil stock save TVE. 

The budget news was exactly in line with what they have said previously as well as analysts expectations. So that's not the problem.

I am speculating now, but I suspect the buyer of the 50 million Juniper shares seized the opportunity to amplify the weakness to get a better price. After all, a few pennies is millions of dollars difference in price, so why wouldn't the buyer want $4.25 instead of $4.80 or $5.25? 

Now that the ink is dry on the block sale, I suspect there will be lot fewer shares "for sale" and the share price will move back to an appropriate valuation relative to peers.

This is how the rich get rich and stay rich. They are brave and crafty. Retailers get scared out of their shares again. Hopefully some of you had a chance to add rather than subtract over the past few days.
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