RE:Baytex is looking good…I keep seeing this sentiment on here from (seemingly) new posters and I think it's worth pointing out the inaccuracy.
Baytex does NOT need higher WTI to do well and for shareholders to be happy.
Baytex is a cash flow monster today, last month, and 6 months ago at these same prices. There is tons of cash coming in. Nothing has changed in many months except for the share price tanked after the merger as every single Ranger holder seemed to want out at the same time creating a high value opportunity that many players, mostly institutions, are competing with each other to get a full position...which is millions of shares for them.
You sound uneasy about Baytex, but you shouldn't be. A word of advice: when WTI drops to $65 again, just relax. Oil is not going back into the 40s anytime in the next 5-7 years and BTE makes a lot of money at $65.
WTI does not need to go up for BTE share price to go way up.
Nextlegup wrote: Trading up on a down day from WTI...sweet!
If Crude prices can establish a decent footing, Baytex should be a cashflow monster...and with the projected upside
on WTI, I believe shareholders are going to be happy over the next 6-12.
I've continue to shift my portfolio to an overweight in Baytex...We'll see how it goes.
GLTA