Bellatrix Exploration (BXE) Stock Rating Lowered by Raymond James Financial
Bellatrix Exploration (NYSE:BXE) (TSE:BXE) was downgraded by research analysts at Raymond James Financial from a “market perform” rating to an “underperform” rating in a research note issued on Thursday.
A number of other research firms also recently commented on BXE. Scotiabank reaffirmed a “hold” rating and issued a $5.00 target price on shares of Bellatrix Exploration in a research report on Tuesday, October 10th. Zacks Investment Research downgraded shares of Bellatrix Exploration from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 8th. Canaccord Genuity reissued a “hold” rating and set a $3.75 price objective on shares of Bellatrix Exploration in a research report on Friday, November 10th. Northland Securities reissued a “buy” rating and set a $4.50 price objective on shares of Bellatrix Exploration in a research report on Friday, November 10th. Finally, AltaCorp Capital downgraded shares of Bellatrix Exploration from an “outperform” rating to a “sector perform” rating in a research report on Friday, November 10th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $3.92.
Bellatrix Exploration (NYSE:BXE) traded up $0.04 during trading hours on Thursday, reaching $1.51. 468,300 shares of the company’s stock were exchanged, compared to its average volume of 91,574. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.45. Bellatrix Exploration has a fifty-two week low of $1.44 and a fifty-two week high of $5.15.
Several hedge funds have recently modified their holdings of BXE. First Eagle Investment Management LLC bought a new stake in shares of Bellatrix Exploration during the 3rd quarter valued at $1,153,000. Proxima Capital Management LLC lifted its stake in shares of Bellatrix Exploration by 12.6% during 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 lifted its stake in shares of Bellatrix Exploration by 73.9% during 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. 40.17% of the stock is owned by hedge funds and other institutional investors.
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About Bellatrix Exploration
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.
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