Post by
Wildfury on Jan 23, 2023 4:26pm
Who's selling ?
The writing is on the wall , Bison sold all their positions in Baytex months ago when it was at the $7.50 mark , they were one of the largest promoters . There are others obviously that have no confidence in managements capex spending and debt reduction plans . Some people on this board like the fact that the SP is down , stagnant , why , because they're buying the story of its better so they can buy back shares at lower prices . No debt reduction , no dividends for maybe a couple of years . Take a look at Whitecap , they have more outstanding shares than Baytex , also active in NCIB , they made an acquisition close to $2 Billion dollars without diluting shares & they just increased their dividend to .05 cents per month . This is just one example & a possibility of a takeover of Baytex is in the works . Look for yourself , WTI up , BTE down or flat , don't you think something is wrong ?
Comment by
marlinbait on Jan 23, 2023 4:30pm
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Comment by
dllscwbysfn on Jan 23, 2023 5:00pm
I think there are a lot of good companies in the oil business right now that are quite cheap. So maybe some are leaving BTE due to the fact that they have new management. But I think if they stick to the plan and we average 85 WTI for the year you will get rewarded in a large stock price increase. We might double which would be highly unlikely for Whitecap. Different setups though with divy
Comment by
riski on Jan 23, 2023 7:09pm
Yes, Baytex will have much greater torque than whitecap. Such as the nature of investing in a leveraged name. The leverage suppresses, the share price, and as leverage is reduced/resource prices increase, the share price moves more relative to other non leveraged names. That's why BTE has been a great pick coming out of the pandemic lows.