Baytex Energy Corp.

TICKER BTE.TO

ISIN CA07317Q1054

Market cap. CAD

3,541,941,398

Shs outstanding 768,317,006

Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Texas, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas. Its principal oil and natural gas properties comprise the Eagle Ford property in Texas, Viking and Lloydminster properties in Alberta and Saskatchewan, Peace River and Duvernay properties in Alberta. The company’s properties also include conventional oil and natural gas assets in Western Canada. As of December 31, 2021, it had proved developed producing reserves of 129 million barrels of oil equivalent (mmboe); proved reserves of 278 mmboe; and proved plus probable reserves of 451 mmboe. Baytex Energy Corp. was founded in 1993 and is headquartered in Calgary, Canada.

Strategy: Beat the TSX

Return at exit: Live

Strategic Transformation with Compelling Valuation

• Our ML engine identifies Baytex Energy as a strong buy based on exceptional market performance (84% 6-month return), attractive valuation metrics (P/B ratio of 0.82, PEG ratio of 0.1), and positive volatility catalysts. • The transformative $3.25 billion Eagle Ford asset sale positions Baytex as a focused Canadian producer with improved financial resilience (break-even reduced to $52/bbl) and net cash position. • Multiple analyst upgrades support bullishness, with BMO Capital doubling its price target to C$6.00 and Raymond James raising to C$5.50 (both well above current price of C$4.45). • Post-transaction strategy includes debt elimination, significant shareholder returns, and sustainable 3-5% annual production growth, creating a compelling investment case despite recent revenue softness.