Could Baytex Energy (TSX:BTE) Stock Hit $5 in 2021? fool.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.ca Daily Mail and Mail on Sunday newspapers.
Baytex Energy
This stock traded for $48 in 2014 and paid an annualized dividend of $2.88 per share. Today the dividend is history and investors can buy the stock for $1.35.
While long-term holders of the shares probably won’t see a return to the glory days, savvy investors who had the courage to buy when Baytex stock dipped below $0.40 per share last year are all smiles.
In June 2014, nobody thought Baytex would be a penny stock in 2021. In fact, the company thought it was on track to become a major player after completing the acquisition of Aurora Oil and Gas for $2.8 billion. Unfortunately, that proved to be the peak of the oil market.
Brooks intends to maintain his role as board chair following the selection of a new CEO.
In addition, Samantha Holroyd, the chair of Oasis’ nominating, environmental, social and governance committee, has been named as lead independent director during the period that Brooks is both the board chair and CEO.
Oasis is one of the top producers in the Williston Basin and primarily focuses on the Middle Bakken and Three Forks formations. Meanwhile, the company entered the Delaware Basin in December 2017 with the acquisition of Forge Energy LLC. Oasis currently focuses on the development of the oil-rich Bone Springs and Wolfcamp formations in the Delaware Basin.
Oasis Midstream Partners Announces Retirement of Thomas Nusz and Appointment of Douglas E. Brooks to Board of Directors marketwatch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketwatch.com Daily Mail and Mail on Sunday newspapers.