Even oil's latest rise failed to trigger a rally among energy stocks. That leaves Baytex Energy Corp. ( TSX:BTE )( NYSE:BTE ) attractively valued. Its stock is down by 28% over the last year, despite oil being ~22% higher than it was a year ago. Baytex has forecast that with West Texas Intermediate (WTI) at US$50 per barrel it will be free cash flow positive. With WTI at US$64, Baytex is on track to generate considerable free cash flow. That leaves it well positioned to invest further in expanding production while paying down its net debt totaling $1.7 billion.