Of firms operating in the Canadian oil sands with market capitalizations of at least $500 million, Baytex Energy Corp. (TSX:BTE)(NYSE:BTE) is the most leveraged, meaning that Baytex is the most sensitive to movements in the price of oil.
Baytex Energy Corp. (TSX:BTE)(NYSE:BTE) jumped more than 10% after hitting a new 12-month low below $4 per share. Let's take a look at the current situation to see if the latest rebound could be a signal the stock has finally bottomed out.
Baytex offers big upside potential if oil prices are destined to move higher through the end of the year and beyond. The company has retained most of its assets through the downturn, and operating costs have fallen to the point where the business can ...
Back in the summer of 2014, Baytex traded for about $48 per share. The company had just made a game-changing acquisition in the coveted Eagle Ford play, and investors believed WTI oil would remain near the US$100 mark.
Baytex Energy Corp (TSX:BTE)(NYSE:BTE) shares are currently trading at their 52 week low. The oil company's has fallen from stock market grace due to its high leverage in a low oil price environment, but there is a big chance its stock price could rebound.