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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (58399)	7/15/2019 7:57:43 PM
From: Goose94	Read Replies (1) of 203020

Baytex Energy (BTE-T) top pick from John Zechner on BNN.ca Market Call 2nite Monday July 15th @ 1800ET One doesn’t need to be a raging energy bull to be positive on Baytex at current levels. The company has reduced financial leverage dramatically in the past three years as it generates free cash flow at current strip prices. There’s the misconception that the majority of its production is priced at WCS, but the reality now is that Baytex sells a large amount of oil from the Permian Basin and therefore receives market prices. With current WTI prices averaging around US$60, the company could generate between C$500 million and C$700 million in free cash flow. That would push Baytex’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. The stock trades at discount to net asset value and only about three times operating cash flow.

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