RE:80 million shares in better handsriski wrote: A crazy week for BTE. 80 million shares panic sold from short term holders now in savvier, more institutional-biased hands which will bring further stability to the share price. The share price isn't much different than where we started the week before the news, but I'm confident of where it is going.
I feel bad for those who bailed on this and couldn't understand what a transformative deal the Ranger acquisition is for Baytex. It's a lot of information to process, but highlights the short term inefficiency of the stock market which will always be exploited by those who can process and understand the data quickly.
Congratulations to the new shareholders, especially those brave enough to add in the $5.20s where millions of shares were tendered.
The BTE party has just begun.
I agree and hence I re-entered . If you look at history of Baytex prior to the shitshow with Aurora , they did great with thier other acquistions and always resulted in a price increase. IF we are truly midcycle and Oil remains b/w 80-100 for next 2 yrs , this could hit 15-20 bucks provided
1) Debt is paid down
2) They repurchase atleast 25% of the float of 800million share count they will have .
This will value them at 8 -10 billion for 160k prodn which is about 50-60k per flowing barrel