Baytex Energy Corp T.BTE

Alternate Symbol(s): BTE

Energy Oil & Gas E&P

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 269,000 gross 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

Baytex Energy Corp > CPI 6.5%

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Comment by Snowballeron Jan 12, 2023 1:53pm

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Post# 35219017

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:CPI 6.5%

Could be. I think the market is pricing in the end of rate hikes 6 months from now. The recession will come after that imo and the market will TANK. Earnings recession to take place in 2023 as well, don't forget. I think we are about to witness a MASSIVE MARKET MOVE TO THE UPSIDE for the S&P500... NASDAQ to get a big boost as well but probably underperform the S&P.

dllscwbysfn wrote: I think in many ways the recession is already somwhat priced into the market. If there is a recession it should take nobody by surprise. The stock market is generally a forward indicator looking out 6 months. So maybe when we hit the technical recession the stock market might be ready to rise in the not too near future. Nobody knows for sure.
In 2024 of course the US has elections, I cannot imagine the dems would go into that with a big recession just ending.
masfortuna wrote:
Snowballer wrote:
$103ish

TheWokeLemming wrote:

Snowballer wrote:
im saying I feel comfortable with the technical pivot in directional momentum being shown on the daily and weekly chart for the time being and I can leverage the conviction. That's much more precise than up, down and sideways as all of that is inevitably true... the difference is timing directional momentum which has been working out well for me so far. The targets are simply risk reward points on the map

TheWokeLemming wrote: So you're saying it could go down, up or remain flat?
At this point the biggest risk to recession seems to be tthe Fed itself OR OIL RISING QUICKLY TO $100. Sleepy Joe won't be refilling the SPR anytime soon.

So if $43 is worst case scenario, what's your best case?

Hey Snowy, I think that you are underestimating the impact of the next earnings report. Calling for $6 is almost a sure thing at this point as we will start to trend higher as we get closer to earnings season. Your $3 call will only play out if we go into a deep recession but that becomes a given if the entire market tanks 20-30%. I don't think you need a tech analysis to be able to make a case for both although one is too low ($6) and the other to high of a drop with the info we have at present ($3). Just saying...