Bellatrix Exploration Ltd (BXE) Downgraded to “Sector Perform” at AltaCorp Capital

AltaCorp Capital downgraded shares of Bellatrix Exploration Ltd (NYSE:BXE) (TSE:BXE) from an outperform rating to a sector perform rating in a research note released on Friday.

Several other analysts also recently issued reports on the stock. Northland Securities reissued a buy rating and set a $4.50 target price on shares of Bellatrix Exploration in a research note on Friday. Canaccord Genuity reissued a hold rating and set a $3.75 target price on shares of Bellatrix Exploration in a research note on Friday. Zacks Investment Research downgraded shares of Bellatrix Exploration from a hold rating to a strong sell rating in a research note on Wednesday, November 8th. Scotiabank restated a hold rating and set a $5.00 price target on shares of Bellatrix Exploration in a report on Tuesday, October 10th. Finally, ValuEngine cut shares of Bellatrix Exploration from a hold rating to a sell rating in a report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Bellatrix Exploration currently has an average rating of Hold and an average target price of $4.88.

Bellatrix Exploration (NYSE BXE) traded down $0.15 during midday trading on Friday, hitting $2.31. The company’s stock had a trading volume of 167,400 shares, compared to its average volume of 83,780. Bellatrix Exploration has a 52 week low of $2.23 and a 52 week 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 institutional investors have recently modified their holdings of the business. First Eagle Investment Management LLC bought a new stake in Bellatrix Exploration during the third quarter worth about $1,153,000. Proxima Capital Management LLC grew its stake in Bellatrix Exploration by 12.6% during the second quarter. Proxima Capital Management LLC now owns 5,405,000 shares of the oil and gas exploration company’s stock worth $3,085,000 after buying an additional 605,000 shares during the last quarter. Finally, Signia Capital Management LLC grew its stake in Bellatrix Exploration by 73.9% during the second quarter. Signia Capital Management LLC now owns 8,693,132 shares of the oil and gas exploration company’s stock worth $5,039,000 after buying an additional 3,694,195 shares during 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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