Baytex Energy: A 'Scratch And Dent' Standout

2024-11-27

Baytex Energy Corp. is undervalued, trading at a 35% discount to book value, with strong fundamentals and catalysts in both U.S. and Canadian markets.
Baytex's acquisition of Ranger Oil in the Eagle Ford basin has diversified its production, now over half of its daily output.
The company is focused on reducing debt and returning capital to shareholders, with a free cash flow yield of 18% and attractive valuation multiples.
BTE rates a strong buy for investors anticipating higher oil prices and improved market conditions for upstream E&P operators.

FG Trade Latin/E+ via Getty Images

Introduction

Baytex Energy Corp. (NYSE:BTE) has traded in a fairly tight range for about a year now, oscillating between slightly less than $3.00 and $4.00 per share (when rare

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