Baytex Energy Corp T.BTE

Oil still UP

[dandu1924]

At  16.24  to Oil is over $86, and most of oil stock were down today?  What is going on. Any reason or idea about the reaction of the oil stock ( I mean way down today  with the higher price of oil )??

[BayStreetWolfTO]

Market down overall. DOW and NASDAQ down...not to mention things don't go up in a straight line. On a massive red market day we lost what....6 pennies? Not bad I would say but that's me. This is today the TSX Energy Cap Index. (Note I think TOU did a special divy so that drove today...the rest well...18 of 22 names down) Some will say this is a Baytex thing but those individuals know

[Cobalt]

Ya second special dividend from TOU 

[Cobalt]

Just profit taking algos and traders only stay in business if they sell into strength , lots of money wants in so the dip will be bought fast , JP Morgan now says algos may be 90% of the market trading now , years ago it was 70% so i can see it

[Antonyius]

Some funds probably had to profit take and dump a bunch of assets because they bet on crypto or something stupid like gambling on GameStop.

[Unlucky13]

Oil is up on the Ukraine tensions and the UAE strikes.  Experienced traders know that will settle down in a few days, that's why the stocks are down.  The forecasts are for $70 oil, not $90 oil.

[Zaphod]

You can't say that ...how are you gonna pump and dump a stock if you use reality and facts.... BTE is a $4.50 stock according to all the analysts. Oh wait it's a $12 stock according to the people on here...

[topdown99]

So what do you think its worth Zap ? $4.50 is outdated , analysts are still looking back , $80+ WTI and debt reduction blows that number right out of the water . We are a few weeks away from year end report and as we can see , Q1 is off to a great start as well . The 2021 hedges are gone , $450 million of debt is gone and FCF keeps increasing . As BTE executes their 5 yr plan , the share price

[Unlucky13]

I will dare to put out a number.  568 million shares outstanding is your starting point.  If $86 holds that's about 700 million in free cash flow.  That's about $1.23 per share in earnings per share over 12 months.  At a pe of about 5 that's $6.15, 12 months from now.  This is assuming such a lofty oil price.  This excludes any concern about the debt

[topdown99]

I know I'm going to regret this but how do you explain that statement ? What new oil production will meet let alone over supply a market with such pent up demand as what we will see in 2022 ? And further , if you really believe in $50 WTI , why wouldn't you sell out before you put your dad back in the welfare line ?

[Unlucky13]

I am not so sure demand will outstrip supply and am deathly afraid of a 25 percent haircut here.  I am also greedy and feel like I deserve this running to $6 before I sell.  But I am fully aware that nothing goes straight up and last history indicates tumbles every step up the ladder.

[compsys68]

100 % DYOR and just my opinion but i see 7.00 before the end of the year.

[Unlucky13]

That is within reach with a premium on the price to earnings ratio.  That's possible but the oil price has to stay high here and hover above $90.  It won't get there with $70 oil.  That's reasonable, a double isn't this year.

[red2000]

Agreed with you my target was 6$ to 8$ ! But if we keep WTI over 85$ for a couple of months, I think we have to add 1 buck or 2 ! More analysts will change their forecast about Baytex after YER, especially RBC ;) GL Compsys68 !

[Unlucky13]

Keep in mind RBC had a worst case scenario of $10 on BTE when BTE was a $20 stock.  It went to 28 cents and the analysts were grossly wrong!  I have no faith in them anymore after that prediction.