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An update from Baytex Energy ( (TSE:BTE) ) is now available.
On December 22, 2025, Baytex Energy unveiled a 2026 capital budget of $550 million to $625 million designed to deliver 3% to 5% production growth to 67,000–69,000 boe/d, sharpen its focus on Canadian light and heavy oil assets, and further improve capital efficiency, including a lower sustaining breakeven price of US$52/bbl. The plan allocates about 35% of capital to accelerating commercialization of the Pembina Duvernay, 25% to Mannville heavy oil development at Lloydminster, and includes infrastructure and exploration spending to underpin longer-term growth, while the company outlines a three-year outlook of 3%–5% annual production growth to roughly 75,000 boe/d by 2028, maintains a net cash position, and signals enhanced shareholder returns via buybacks and dividends following its Eagle Ford sale; Baytex also extended its $750 million credit facility to 2030 and appointed Chad E. Lundberg as President and Chief Operating Officer as it deepens its Canadian-focused strategy.
The most recent analyst rating on (TSE:BTE) stock is a Buy with a C$5.00 price target. To see the full list of analyst forecasts on Baytex Energy stock, see the TSE:BTE Stock Forecast page.
Spark’s Take on TSE:BTE Stock
According to Spark, TipRanks’ AI Analyst, TSE:BTE is a Outperform.
Baytex Energy’s strong technical momentum and solid financial performance are the primary drivers of the score. While the company faces challenges with debt levels and commodity price impacts, its operational efficiency and liquidity provide a stable outlook.
To see Spark’s full report on TSE:BTE stock, click here.
More about Baytex Energy
Baytex Energy Corp. is a Calgary-based upstream oil and gas producer listed on the TSX and NYSE, focused on Canadian light and heavy oil, including the Pembina Duvernay and Mannville heavy oil plays in Alberta. The company emphasizes a streamlined Canadian portfolio, capital-efficient production growth and strong balance sheet management to support consistent shareholder returns.
YTD Price Performance: 19.27%
Average Trading Volume: 5,922,120
Technical Sentiment Signal: Buy
Current Market Cap: C$3.3B
For a thorough assessment of BTE stock, go to TipRanks’ Stock Analysis page.