5 High Growth Energy Stocks to Buy

2. Baytex Energy Corp. (NYSE:BTE)

Latest YoY Quarterly Revenue Growth: 59.06%

Number of Hedge Fund Holders: 24

Calgary, Alberta-based Baytex Energy Corp. (NYSE:BTE) is an energy company engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States.

On November 28, Baytex Energy Corp. (NYSE:BTE) announced the sale of certain of its Viking assets located at Forgan and Plato in southwest Saskatchewan for C$154 million. The company intends to use the net proceeds from the sale to reduce its bank indebtedness.

Earlier in June, Baytex Energy Corp. (NYSE:BTE) completed the acquisition of Ranger Oil Corporation for a total cash and stock consideration of $2.2 billion. The acquisition adds 162,000 net acres in the crude oil window of Eagle Ford.

Baytex Energy Corp. (NYSE:BTE) is working on an aggressive shareholder return program and intends to allocate 50% of its free cash flow for share buybacks and dividend payments with the remaining 50% to be used for strengthening its balance sheet.