RE:RE:RE:RE:RE:RE:RE:Baytex EnergyHere is a quick recap of the last full year Baytex paid a dividend at was in 2014 compare to actual result for 2021
| Baytex annual report | | |
| | 2014 | 2021 |
| Financial | | After Q3 |
| Revenues (M$) | 1 969,0 $ | 1 315,8 $ |
| Ajust. Funds (M$) | 879,8 $ | 530,9 $ |
| Dividends (M$) 1,79$ per share | 301,1 $ | - $ |
| Net income (loss) (M$) | (132,8) $ | 1 050,4 $ |
| Total debt (M$) | 2 295,9 $ | 1 564,6 $ |
| CAPEX (M$) | 3 311,2 $ | 238,5 $ |
| | | |
| Operating | | |
| Daily production | | |
| Heavy Oil (bbl/d) | 44 948 | 21 752 |
| Light Oil | 17 681 | 36 060 |
| NGL | 4 819 | 6 995 |
| Total oil and NGL | 67 448 | 64 807 |
| Natural Gas (boe/d 6:1) | 10 873 | 15 135 |
| Total Production (boe/d) | 78 321 | 79 942 |
| | | |
| Avg. Price no hedging | | |
| WTI oil (US$/bbl) | 92,97 $ | 72,49 $ |
| WCS Heavy Oil (US$/bbl) | 73,58 $ | 54,50 $ |
| | | |
| Exchange rate CAD/USD | 1,16 | 1,25 |
| | | |
| Share price Close | 19,32 $ | 4,01 $ |
| Out. Shares (M) | 168,1 | 564 |
| Market Cap. (B$) | 3,248 $ | 2,262 $ |
| Enterprise Value (EV) | | 3,600 $ |
So where the stock price may goes....make the forecast with me !!! And post it !
Debt already down for 700M$ compare to 2014 !
Actual Market Cap already at a discount of 38% compare to actual EV !!!
Revenues closely the same as AFF compare to 2014 !!!
Imagine 2022, Revenues will fly over 2,2B$,
FCF over 500M$ with WTI at 75$. see presentation dec 2021.
Imagine if they sell some unproductive assets for cash and royalties ( Seal lake river for example, Nuttall talk about it very briefly)
They can't produce on each unproductive claims, it take too much time, but with a partner !!!?? Who knows !?
At the end, I see Baytex between 5$ to 6$ with year end results of 2021.
Base on the actual EV the s/p worth 5,76$.
End of 2022, with a stable WTI at 70-75$, seems possible to see 8 to 10$.
With a yearly dividend in 2023 and probably Out. Shares under 500 M, the stock price may reach 20$ easily !!!
Many positive facts for this stallion !
Are you able to hold this stallion for another 2 to 3 years ???
Like many of you, I don't like bumpy road !!
But i can make this road trip, if my others investments make a yield of 7 to 10% !
Because Baytex is for real !!!
Like Eric Nuttall call it 6 months ago... Baytex is a free cashflow MACHINE !!!
Please do your DD it's your money !!!