Bellatrix Exploration (BXE) Upgraded to Hold by Zacks Investment Research

Bellatrix Exploration (NYSE:BXE) (TSE:BXE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday, March 19th.

According to Zacks, “Bellatrix Exploration Ltd. is an oil and gas 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. Bellatrix Exploration Ltd. is headquartered in Calgary, Canada. “

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BXE has been the subject of a number of other research reports. AltaCorp Capital downgraded Bellatrix Exploration from a “sector perform” rating to an “underperform” rating in a research report on Friday, March 2nd. Raymond James Financial downgraded Bellatrix Exploration from a “market perform” rating to an “underperform” rating in a research report on Thursday, December 14th. UBS cut Bellatrix Exploration from a “market perform” rating to an “underperform” rating in a report on Thursday, December 14th. BMO Capital Markets started coverage on Bellatrix Exploration in a report on Thursday, January 11th. They set an “underperform” rating on the stock. Finally, Northland Securities set a $3.00 price objective on Bellatrix Exploration and gave the company a “buy” rating in a report on Monday, December 11th. Five analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $3.41.

Shares of BXE remained flat at $$1.33 during trading hours on Monday. The stock had a trading volume of 93,604 shares, compared to its average volume of 139,327. The company has a market cap of $65.67, a P/E ratio of -0.98 and a beta of 0.87. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.51. Bellatrix Exploration has a 12-month low of $0.99 and a 12-month high of $4.25.

Bellatrix Exploration (NYSE:BXE) (TSE:BXE) last issued its quarterly earnings results on Tuesday, March 13th. The oil and gas exploration company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.05. The firm had revenue of $47.95 million during the quarter, compared to the consensus estimate of $48.30 million. Bellatrix Exploration had a negative return on equity of 5.64% and a negative net margin of 35.36%. equities research analysts expect that Bellatrix Exploration will post -0.82 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in BXE. Renaissance Technologies LLC purchased a new position in Bellatrix Exploration in the 4th quarter worth approximately $335,000. Deutsche Bank AG increased its stake in Bellatrix Exploration by 7,718.2% in the 4th quarter. Deutsche Bank AG now owns 426,872 shares of the oil and gas exploration company’s stock worth $734,000 after purchasing an additional 421,412 shares during the period. Finally, Proxima Capital Management LLC increased its stake in Bellatrix Exploration by 40.1% in the 4th quarter. Proxima Capital Management LLC now owns 1,800,000 shares of the oil and gas exploration company’s stock worth $3,079,000 after purchasing an additional 515,000 shares during the period. 29.14% of the stock is currently owned by 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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