Baytex Energy Corp T.BTE

Baytex will open at $1 tomorrow

[YesSetForLife]

it's alive!!!!

[topdown99]

That might be a bit ambitious but there is no arguing the positive momentum here . The 50 day moving average is just ready to cross the 200 day which is a bullish sign . The fat has been trimmed and with an additional $23M for each $1/brl , it just shows how ridiculously cheap this stock is . I think that all the tax loss selling was done here long ago and the price should continue gaining

[red2000]

Right on ! Agree with you. Not 1$, but may be 0,80-0,85 in the near future. Nice trend so far... Here is a summary of today's trades for BTE on only the TSX Daily Trading dec.7 2020 for TSX only   SP$ Sh traded   sub total   0,705       

[Sexp1stol]

I been sitting on 50k $ already have 200k shares and tmr is the day I am going all in here :) Before a good invetory data report

[YesSetForLife]

I think you have the right strategy. Baytex just broke the 200 ema on the daily. It's only the beginning. $1.50 very possible before end of year. If they ever announce a dividend it will go to $1.50 in 1 day

[Sexp1stol]

They will not announce a dividend in the next 2 years but I compared them with CPG and MEG and seems like we are making revenue a lot cheaper and have a much more undervalued market cap compared to financial fundamentals. I believe that next year oil will have space to go up and once the vacines are out travel should go back to normal, which makes me want to invest in a good oil producing company.

[red2000]

Forget the dividend for the moment it's like magician's powder ! Too much out. shares, but for 2022, may be... Like WCP do, 1,4 ¢ per shares, it's nothing, and they reduce there cash flow of 70M$ per year !  Better mark-up with debt reduction or investment in a new profitable project Only my O !

[Sexp1stol]

I agree with you. As a shareholder I want to see them only reducing debt that is the only thing that is important at the moment. When debt goes under 1b then the share price will be in the 10s$

[TrendSwapper]

The only problem is..under the current price of oil we have next to no free cash flow to pay down debt in 2021. I recall they estimated 75 mil in free cash flow at 45 WTI. Each $ increase in oil gives them another 23 mil, but 48% is hedged to a cap of 52. Oil really needs to get back into the 60s for us to make a meaningful dent on debt.

[Sexp1stol]

Next year it will get back to 60 for sure all the oil producing countries need it

[TrendSwapper]

That's been the case for 5 years now. Even Baytex is not confident given their conservative hedging program. Ultimately, we need the states to take the foot off the gas if oil is going to go anywhere, and hopefully a Biden administration facilitates this a bit. We know OPEC is doing what they can, but it has been said that even Saudi Arabia needs 80 dollar Brent to balance their budget.

[2020oilgamble]

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[YesSetForLife]

We will see $1 today!!