A move back to $10 or $12 is certainly possible if oil can muster a sustainable move above US$50, and Baytex even pegged its value at about $11 per share earlier this year when oil was much lower than the current WTI price of US$50 per barrel.
One company that stands to significantly benefit from a surge in oil prices is Baytex Energy Corp. (TSX:BTE)(NYSE:BTE). The one-time dividend darling may have come crashing to earth in the wake of the oil slump destroying the dreams of many investors ...
Baytex Energy Corp. (TSX:BTE)(NYSE:BTE) has been on the slide for more than three months, and investors who missed the big rally in the first half of the year are wondering if this is a good opportunity to buy the stock.
The main appeal to buying Baytex Energy Corp. (TSX:BTE)(NYSE:BTE) can be seen just by looking at how its shares reacted to the oil run up this year—from January 20, when Baytex shares bottomed, to its previous peak in June, Baytex shares rose 357%.