Baytex Energy Corp T.BTE

Beat EPS by .04

[TheWokeLemming]

32 cents instead of 28 that was expected.  3.2x better than Q1.   No clarification on a divvy was a disappointment to me.  Buybacks continue to the tune of 1-2% per quarter.  A very good report overall and they certainly are making money.  My opinion only.

[dandu1924]

About the dividend, they keep that for the dessert and you never know when, so  the shorts will be burn, this is explain the 24% less short position, the shorts getting very nervous.

[dllscwbysfn]

They hint at a dividend when they reach 800M of debt. 50% of FCF goes back to the shareholder so would this all be sharebacks or a combination of share buybacks and dividend. This will likely be near the end of the year.

[Antonyius]

If you look at their presentation they said they'll do the 50% fcf to share buy backs, and once they hit their ultimate goal of $400 mil debt then they'll explore dividends or other shareholder returns

[dllscwbysfn]

I stand corrected

[Canukiwi]

Ant, I don't read them actually saying that, but between the lines, I agree. Divs in early '24. That's fine with me.

[Burgersandfries]

Roger that on the divi! There's no rush.

[masfortuna]

FYI CANUKIWI They paid down 300 million in debt in 2 quarters.  If they pay down another 300 million in the last 2 they will reach 800 million end of  fiscal 2022. By mid 2023 assuming oil is trading above $90 on avg. they will be at 400 million debt and the start of divies NOT EARLY 2024. And with the Clearwater wells coming online earlier this year they may hit the 400 million target

[Canukiwi]

Prefer your interpretation to mine.