Baytex Energy Corp (BTE, BTE.TO)

[zylon]

Tony Marino has left the building.

Baytex announces that Anthony Marino, President and Chief Executive Officer of Baytex, is leaving the Company. Mr. Marino has served Baytex since 2004, and the Board of Directors of the Company thanks him for his numerous contributions during his tenure and wishes him success in his future endeavours. Mr. Marino will assist as necessary to facilitate an effective leadership transition.
http://tmx.quotemedia.com/article.ph...&qm_symbol=BTE

I've been accumulating BTE since August, and was able to lower my average cost today.
My average now 48.30

home page: http://www.baytex.ab.ca/

insider: http://www.canadianinsider.com/node/...+Baytex+Energy

monthly dividend 0.22 yields > 5%

[KaeJS]

Been wanting this one for a while, but it was always quite expensive.

I may be in for 50-100 shares next week. We will see. There are a lot of "deals" right now, apart from BTE.

However, if I bought BTE, I would buy solely on Margin (dividend is safe) and would look to sell it at $50.

[zylon]

Seasonality indicator for Baytex is favourable for accumulate, hold, and collect dividends strategy;
not so much for swing trading at this time of year.

Chart shows seasonal average to Dec 31, 2009

2010 went against the trend; 2011 neutral for time frame shown.

May 11, 2010 to Dec 31, 2010 +45%

May 11, 2011 to Dec 31, 2011 +2%



http://charts.equityclock.com/baytex...seasonal-chart

[zylon]

Chan called Marino’s departure a “significant change” for Baytex, but said the business model stays the same. “We want to grow the production from anywhere from five to 10 per cent and want to deliver a consistent and hopefully growing inventory, dividend stream, along with that story.”

Chan joined Baytex Energy Trust in 1998 as senior vice-president and chief financial officer and a director. The founding chief executive of Baytex Energy Corp. in its 2003 conversion from a trust, Chan hired Marino as chief operating officer in 2004 and later promoted him to CEO. Chan became chairman in 2009.

(...)

“As it happens, a CEO often becomes the face of the company and Tony was very articulate and very good at explaining Baytex’s strategy to the investment community and they had a lot of confidence in him,” Tait said. “But I think it’s also clear there was always a good team behind him that executed and that hasn’t changed.” ~Gordon Tait, BMO Capital Markets

(...)

Baytex Energy, focused on developing oil and gas in Alberta, Saskatchewan, British Columbia and North Dakota, was 78 per cent heavy oil weighted in the first quarter.
Among the most exposed to the wide price discounts Canadian heavy crudes faced relative to the U.S. benchmark earlier this year, Baytex has pursued an active hedging program and is growing its use of rail to deliver heavy oil to markets outside the over-supplied U.S. Midwest.
Twenty per cent of the firm’s heavy oil volumes are contracted to move by rail and the company wants to grow that figure, said chief financial officer Derek Aylesworth, who noted that oil price differentials have come in but the market is likely to remain “volatile.”

Read more: http://www.calgaryherald.com/busines...#ixzz1ua5BP600

[KaeJS]

Time to buy?

[arc]

My only worry with this stock is its high P/E and PEG ratio. Any thought?

[Islenska]

Was able to get some with low ball order of $40, then it went down some more but has rebounded to $43, like the cash payout and one to buy on dips.

[KaeJS]

Um. What happened to this stock today?

I can't find any news.

[al42]

CIBC Slashed Price Target to $46.00 from $62.00

[Nemo2]

Glad I only paid $13.16 for ours.......back in February 2009.