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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (52061)	11/26/2018 9:51:42 PM
From: Goose94	Read Replies (1) of 203376

Baytex Energy (BTE-T) top pick from John Zechner on BNN.ca Market Call 2nite Monday Nov 26th @ 1800ET Following the acquisition of Raging River, the improvement in the balance sheet and oil prices remaining high, Baytex Energy should be re-rated to a higher valuation. The stock has been unduly hurt due to belief that it is still a major producer of heavy oil and therefore receiving substantially low prices than WTI, but the reality now is that it sells a large amount of oil from U.S. Permian Basin and therefore receives market prices. Assuming WTI oil averaging around US$60 over the next year, the company could generate between C$500 million and C$700 million in free cash flow. That would push Baytex Energy's leverage ratio down to a more comfortable 1.5 times, giving it the financial flexibility to continue drilling, pay off additional debt, pursue another acquisition, or reinstate a dividend.

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