AltaCorp Capital Downgrades Bellatrix Exploration Ltd (BXE) to Sector Perform

Bellatrix Exploration Ltd (NYSE:BXE) (TSE:BXE) was downgraded by equities researchers at AltaCorp Capital from an “outperform” rating to a “sector perform” rating in a report released on Friday.

A number of other research firms have also recently weighed in on BXE. Scotiabank restated a “hold” rating and issued a $5.00 price target on shares of Bellatrix Exploration in a research note on Tuesday, October 10th. Zacks Investment Research cut Bellatrix Exploration from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 8th. Canaccord Genuity restated a “hold” rating and issued a $3.75 price target on shares of Bellatrix Exploration in a research note on Friday. ValuEngine cut Bellatrix Exploration from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, Northland Securities restated a “buy” rating and issued a $4.50 price target on shares of Bellatrix Exploration in a research note on Friday. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.88.

Bellatrix Exploration (NYSE:BXE) traded down $0.15 on Friday, reaching $2.31. The company had a trading volume of 167,400 shares, compared to its average volume of 83,780. Bellatrix Exploration has a twelve month low of $2.23 and a twelve month high of $5.35. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.45.

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A number of hedge funds and other institutional investors have recently modified their holdings of the business. First Eagle Investment Management LLC acquired a new position in Bellatrix Exploration in the 3rd quarter valued at $1,153,000. Proxima Capital Management LLC grew its holdings in Bellatrix Exploration by 12.6% in the 2nd quarter. Proxima Capital Management LLC now owns 5,405,000 shares of the oil and gas exploration company’s stock valued at $3,085,000 after buying an additional 605,000 shares in the last quarter. Finally, Signia Capital Management LLC grew its holdings in Bellatrix Exploration by 73.9% in the 2nd quarter. Signia Capital Management LLC now owns 8,693,132 shares of the oil and gas exploration company’s stock valued at $5,039,000 after buying an additional 3,694,195 shares in the last quarter.

Bellatrix Exploration Company Profile

Bellatrix Exploration Ltd. is an oil and gas exploration company engaged in the exploration for, and the acquisition, development and production of oil and natural gas reserves in the provinces of Alberta, British Columbia and Saskatchewan. The Company’s properties include Ferrier, Willesden Green, Greater Pembina, Strachan and Harmattan.

Analyst Recommendations for Bellatrix Exploration (NYSE:BXE)

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