Bellatrix Exploration Ltd (BXE) Trading Down 5.1% on Analyst Downgrade
Bellatrix Exploration Ltd (TSE:BXE) (NYSE:BXE) dropped 5.1% on Monday after Eight Capital lowered their price target on the stock from C$4.50 to C$4.00. The stock traded as low as C$3.12 and last traded at C$2.98. Approximately 172,402 shares were traded during mid-day trading, an increase of 63% from the average daily volume of 105,715 shares. The stock had previously closed at C$3.14.
Several other brokerages have also recently weighed in on BXE. Raymond James Financial, Inc. lowered their price target on shares of Bellatrix Exploration from C$4.00 to C$3.75 in a research report on Tuesday, October 24th. TD Securities lowered their price target on shares of Bellatrix Exploration from C$4.25 to C$4.00 and set a “hold” rating for the company in a research report on Friday. Six research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average target price of C$2.61.
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.
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