Baytex Energy Corp T.BTE

fear of inflation and recession

[riky144]

the end of US shale hyper-growth and imminent exhaustion of OPEC spare capacity, are stronger than the fear of inflation and recession . OPEC + will no longer be able to increase production in August. The market needs a few days to understand all this then BTE recovers everything with interest as quickly as it went down

[Unlucky13]

The people buying th shares don't agree.  This might be $4 by Friday.  It's scary what is happening to shareholder value.

[red2000]

I agreed ! Same view here ! My 2 cents ! CDN energy producers will stop their increasing production (which is under 3% so far) if the barrel go under 100$ ! THey will reduce CAPEX, protect FCF, to paid more Debt and continue buyback shares Except Baytex with Clearwater, I don't see another producer with this huge pay back under 6 weeks !!! So if recession appears as the fear seen it

[Cobalt]

[masfortuna]

Nothing wrong with oil dropping Red BUT at this rate if oil hits $95 we will be trading at .40 cents. 10-15% drops daily with no fundamental change to supply and demand makes no sense. We are down 43% as I write this in a little over 1 week.  anybody care to explain what would cause this to drop 43%? Interest rates went up .75, and oil is down 10% in that time frame. assuming that demand

[1condor]

masfortuna...like I said yesterday the 6 level support could be in jeopardy. Well here it is today at 5.50 and still dropping. Nuttal probably has steam coming out his ears today....and one has to wonder out of the 8 or so million shares today how many are his on the sell side.

[masfortuna]

No there is more to it. I supect a leak about a tax is causing all of this. This is sector wide and not just BTE.

[Cobalt]

XLE American index 25% off the highs , CVE 25% off the highs TOU 23% off the highs SU 20% off the highs , tells me it is not a Canadina tax leak

[Cobalt]

More like we will hear about a fund that blew up my guess

[BayStreetWolfTO]

Yes Cobalt, not Cdn O&G only.... Cramer literally called an oil bear market after saying oil won't drop LOL.....all the tech guys freaked out took major loses and went back to tech...now us oil longs are still up YTD but it was a wild ride. BUT the interesting thing is the NASDAQ is almost flat for 3 days....so how much would I bet to say the big boys on media said bear oil...bull tech..

[Cobalt]

Traded junior Candian miners for decades only way to beat the pros was to keep stink bids in like 15-20% down for when they ran the stops and stole mom and pop shares i guess we doing major indexs now too ;)

[BayStreetWolfTO]

Cobalt, Cdn junior miners that was the good old days. Not sure if you ever got into it....but my big wins back than inlcuded Dia Met, Southern Era and Aber Resources (my memory is fading almost 3 decades ago now)...but I remember the excitement of it...from pennies to big bucks. Having been in the field up North I just recall the great silience..you could stand still and hear nothing....not like

[Snowballer]

yeah governments everywhere been talking war time economics, production quotas and windfall profits tax. something's afoot and these globalists have not been hiding or shy about their policy desires    

[Maxmoe]

Another pointless shot at Eric. He invests 100% in energy stocks or close to it all the time. Your comment makes about as much sense as your pumping of lspd, grn, pay, uge,brag and all the other meme stocks just before they all crashed. Are you Cramer on cnbc? Buy,buy,buy? Sell,sell,sell? Difference here, is baytex, like all the other producers, produce something valued by everyone. rich and poor

[Nothingmatters]

Lol another pumper buy buy buy...

[BayStreetWolfTO]

Mas, I will glady put in an offer to buy 285m shares @ $0.50 with $95 oil

[dandu1924]

Wolf you are the only one just BTE will buyback  more and quickly to their target number buyback and pay less.

[dandu1924]

Sorry you must read " Wolf you are NOT  the.......

[riski]

It's a combination of things. I suspect there are a lot of margin calls forcing selling. Retail panic piles on. Then institutional algorithms amplify the swing and the cycle continues.  Don't worry, it won't last forever. BTE is a gold mine. An absolute cash machine above $70. At this WTI level, it's a flood of cash. That won't be ignored for long. Buy if you can. I can&

[masfortuna]

Yes BSW. It was meant as rhetorical.  The point was that oil is still trading above $100. Meaning the actual commodity is only marginally down. If it's any consolation, I just bought 5000 shares of BTE and a few other oil stocks.

[riski]

Yes, I was buying more this afternoon. TVE, MEG, and BTE. There is too much value to ignore it any longer. I may not hit the bottom with these buys (actually I already haven't), but I know that I will do well on the long run.

[BayStreetWolfTO]

Most investors don't worry about "hitting the bottom" thats for traders... I didn't worry about hitting bottom using my dividends at $1, $2, $3, $4, $5 and also don't worry about the ones I used at $6, $7, and $8 Long-term vision is for the few. June 30, 2023....we will look back.

[BayStreetWolfTO]

All three without a dividend....that should tell people something....somehow the divy companies didn't attract your money.... BUT AS I SAY I think it's easy when I put it in perspective of it being your own business...If it were my business I would pay debt (sure invest in clearwater) but take out my partners with company cash.   If I had a choice to give my partners money