How to Buy Baytex Energy Stock in Canada [2024]

Summary: For those looking for ways to invest in the oil industry in Canada, publicly-traded companies like Baytex Energy provide an excellent opportunity. This guide will explore how to buy Baytex Energy stock using a regulated third-party brokerage service such as Interactive Brokers.

About Baytex Energy

Founded in 1993 and headquartered in Calgary, Alberta, the company’s main resource extraction area is the Western Canadian Sedimentary Basin and Eagle Ford shale in the United States. Baytex’s current strategy is to adapt to the changing market conditions and extend its portfolio that relies on heavy oil, light oil, and natural gas assets.

About 82% of its output is crude oil and liquids production from five mine operating areas. These include Peace River, Lloydminster, Viking, Duvernay, and the Eagle Ford.

Like similar companies in the petroleum sector, Baytex has felt the consequences of oil price fluctuations caused by geopolitical developments and the global trend of renewable energy alternatives. However, the company has set greenhouse gas reduction milestones and put effort into improving its ecological footprint and embracing responsible business practices.

How to buy Baytex Energy stock: Step-by-step

Baytex Energy had its initial public offering (IPO) on September 19, 2003, so the general public can invest in the company through an online exchange with a straightforward procedure. Let us proceed to the details of each step in this process:

Step 1: Choose a broker

The investing process begins by finding a suitable stock brokerage. The investing platform allows you to enter the stock market and buy and sell publicly traded stock. When making your choice, consider the following factors:

• Range of offerings: Besides BTE, check for other assets like different commodities, various stocks, forex, and derivative assets like options, CFDs, and futures. A greater variety usually reflects better service;
• Cost: Commission-free trading with no-minimum accounts for stocks and ETFs is the most common practice in the industry, so do not accept anything less favorable than that;
• Regulation and security: Ensure the investing platform follows the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) regulations, as well as the availability of two-factor authentication (2FA) and similar security measures; 
• Fractional stock trading: Platforms that enable fractional stock trading allow you to buy stocks by the dollar amount, which suits those with limited capital or traders seeking to pursue the dollar-cost averaging approach.

To securely buy Baytex Energy stock (BTE), we recommend:

Interactive Brokers (IBKR)

• Commission-free stock trading;
• Global stock-trading on 90+ market centers;
• Fractional shares available;
• Extra income on fully paid shares;
• Lowest financing rates for margin accounts in the industry;
• No account minimum. 

Step 2: Open and fund your account

After you make your investing service choice, continue to create an account with the brokerage and complete the profile verification process. Afterward, you need to transfer some funds to be able to make the purchase. 

Out of the most common payment options, such as a bank transfer, debit or credit card, and a third-party transaction service such as PayPal (PYPL), pick the one that fits your investing style the most. 

Step 3: Decide how much you want to invest

Before buying the shares, you have to narrow down the amount you want to buy. To assist you in deciding how much BTE to buy, provide answers to the following questions:

• Will my living standards drop if I lose this amount of cash?
• Have I put aside an emergency fund that covers three to six months of life expenses? Did I repay all high-interest debt?

Besides, the answer depends on your investing habits, the amount of risk you feel you can take, and the final goals of your investment.

Step 4: Place your order and buy Baytex Energy stock

You have to place a trade order to purchase the designated amount of Baytex Energy stock. These four steps do the trick: 

• Step 1: Log into your exchange service account and navigate to the company’s ticker stock symbol BTE;
• Step 2: Type in the amount of stock you want to buy in the field;
• Step 3: Select the order type (market order or limit order) and place it;
• Step 4: Confirm the trade.

Step 5: Monitor and manage your investment

Investing continues after receiving the stock into your portfolio, as you need to monitor and manage your investment regularly. 

Do this by checking the company’s fiscal status and the price of fossil fuels on the Canadian and global markets. Furthermore, observe the geopolitics of major oil exporters and the progress of renewable energies. Frequent checks will supply you with up-to-date and relevant information that will massively improve your investment’s success chances.

BTE stock price today

Pros and cons of buying Baytex Energy stock in Canada

Common mistakes to avoid when buying Baytex Energy stock in Canada

Make sure to avoid these common investing mistakes:

• Lack of research: Do a detailed analysis of the investment, market, and sector tendencies before spending any money;
• Lack of strategy: Set your financial objectives before you invest;
• Staking everything on one asset: Always diversify your portfolio;
• Falling prey to scams: Avoid suspicious platforms and shady deals.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

FAQs about how to buy Baytex Energy stock

How to buy BTE stock?

The best way to invest in Baytex Energy stock in Canada is via a regulated investing service like Interactive Brokers.

Where to buy BTE stock?

BTE is listed on public exchanges (TSX, NYSE). You can buy the stock via an online brokerage such as Interactive Brokers.

Should I invest in BTE stock?

The answer varies due to factors like your investing strategy, stance on fossil fuels, personality, age, etc. Besides the stock itself, check the performance of oil and gas as commodities, which further affects BTE’s performance.

How do I sell my BTE stock?

Log into your investing account, go to BTE’s section, type in how much stock you want to dispose of, and press ‘sell.’