Baytex Energy (BTE) Update - Sept 26

[dan_s]

Baytex will soon be going into our Sweet 16.
> They closed the acquisition of Ranger Oil on June 20, 2023
> I expect the company to report a BIG increase in production from Q2 to Q3; over 60,000 Boepd increase to ~153,000 Boepd.
> BTE is trading at less than 2X my operating cash flow per share forecast for 2023.

TipRanks: "On 9/25/2023 RBC Capital analyst Gregory Pardy reiterated a Buy rating on Baytex Energy (BTE) and set a price target of C$8.00 ($5.64US)."

My current valuation is $8.78Cdn with a realistic 12-month price target of more than $12.00Cdn per share if WTI averages $90 in 2024.

Baytex will be generating a lot of free cash flow in 2H 2023 and over $1.3 Billion FCF in 2024.

[Fraser921]

They are in 2nd place on the Canadian leader list behind Solaris up 4.3 %