Why I Just Bought Baytex Energy

I can remember a couple years ago telling another forum member that I would like to buy BTE under $5. He said "Don't worry you'll get that chance, patient".

There has been many chances in the last 5 years or so to flip this tock for short term gain but I never bothered.

It was once a $45 stock. According to Bruce Campbell it will never again get that high. He was recommending it at $2.52 back in January.

Eric Nuttall talked about Baytex as a go to name in the Canadian Oil Patch last November when it was at $5.40.

If oil could get to between $45-55 and stay there you could make a lot of money on Baytex.

Everybody including Josef Schacter has been calling this a buy for a couple years now. I've just been watching the market response and for money to roll in to take a punt.

Today I did and bought 2100 shares at $1.91

So I bought Baytex for under 2 bucks. WOW!

If it doubled from here I'd be a happy gambler.

If you would have held this stock for the last 10 years you'd be down 77%.

Market Cap: $1B
Beta: 1.63

ROE: (10%)

Forward P/E: 15.5

EPS Growth: 68.2%

Revenue: $1.27B, per share =2.93

Debt: $2.1B
Price Paid: $1.91

52 week high: $4.50

The stock continues to trend down as of this writing so I could have got in cheaper had I waited later in the day. However, I've thrown my chips into the middle so we'll see what hand I'm dealt.

There is tremendous upside opportunity for a lot of these oil names in Canada. I said yesterday they were being thrown away. Today I'm glad I bent down and picked this one up. It's just too cheap to keep being ignored but I'll have to be patient.

It could also move lower from here. It closed the day @ $1.87

I now own PEY (2%) and BTE (1.3%) as trading stocks.

Do you own any energy names? If so, which ones?