Company comparisons.... BTE-NVA comparison
https://www.google.ca/finance?q=TSE%3ABTE&ei=dsEPVpGPFejGigLauKlQ
https://www.google.ca/finance?=TSE%3ANVA&hl=en&gl=ca&ei=CNMPVsDtGuGZiQKZnJf4Bw
BTE-TOU comparison
https://www.google.ca/finance?q=TSE%3ABTE&ei=dsEPVpGPFejGigLauKlQ
https://www.google.ca/finance?q=TSE%3ATOU&hl=en&gl=ca&ei=zNQPVsHqG-vXigLUtqPABg
I spent the better part of the morning searching for comparable companies pre Augusta buyout and post Augusta buyout. I found some interesting Balance Sheet/Cashflow comparisons....
My best Apples to Apples comparables for Balance sheets & Cashflow pre & post Augusta
BTE - NVA are perfect comparison for the pre Augusta buyout.....based on assets
BTE - TOU are perfect comparison for post Augusta buyout....based on assets
BTE vs NVA.........BTE current SP value should reflect at least 4.5x NVA SP value......
BTE better value hands down....
BTE vs TOU.........BTE current SP value should reflect -1.5x TOU SP value.....
TOU wins out narrowly due to lower debt to assets/cashflow.....
In conclusion IMHO Baytex Energy SP should be aprox. $15-$20/share based on current oil price...... and $30+ if oil gets back to $70+......It's quite evident that the Augusta acquisition and the dividend reduction has had an impact on BTE share price...thanks to the shorts....
The shorts went to town creating panic...in tandem with Institutions searching for yield that sold positions when they cut the dividend creating further downside....
Either wait for oil to move higher and pay $10-$15+ for BTE or do as I and the insiders have done and buy when there is blood in the streets....Oil will recover, GREED will take over......
Oil $50+ = BTE $6-$8
Oil $60+ = BTE $8-$10
Oil $70+ = BTE $10-$15
Oil $80+ = BTE $15-$25
These are very conservative/low estimates.....