RE:Less bullish at $5 then $10There's a lot of institutions that want to be in on Baytex, but many were forced to sell because of the dividend halt. That said, depending on the price of oil, we have either the most to gain or the most to lose. When that dividend is reinstated, even at a low rate, I think we'll see a lot of the big boys jump back in.
Personally, I'm assuming oil prices will start to improve around December and I'm expecting Q4 results to show some signs of stability for Baytex, especially since they'll be saving something like 60-80 million without the dividend for the quarter. Admittedly, I'm shaky on Q3 and not expecting much, but as I believe bago mentioned I think it's all about the forward guidance that matters the most. I think a lot of Q3 rests on Eagle Ford as well so we'll see how things are going there.