Bellatrix Exploration (BXE) Shares Up 11.5%

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Shares of Bellatrix Exploration Ltd (TSE:BXE) (NYSE:BXE) were up 11.5% on Wednesday . The stock traded as high as C$0.29 and last traded at C$0.29. Approximately 566,417 shares traded hands during mid-day trading, an increase of 35% from the average daily volume of 418,273 shares. The stock had previously closed at C$0.26.

Several analysts have weighed in on BXE shares. National Bank Financial dropped their price objective on shares of Bellatrix Exploration from C$1.50 to C$1.20 and set a “sector perform” rating for the company in a research note on Monday, December 10th. Raymond James reiterated an “underperform” rating and issued a C$0.75 price objective on shares of Bellatrix Exploration in a research note on Wednesday, January 16th. Canaccord Genuity dropped their price objective on shares of Bellatrix Exploration from C$1.25 to C$0.75 in a research note on Thursday, January 10th. Finally, TD Securities dropped their price objective on shares of Bellatrix Exploration from C$0.90 to C$0.75 and set a “hold” rating for the company in a research note on Monday, March 18th.

The company has a current ratio of 0.44, a quick ratio of 0.35 and a debt-to-equity ratio of 63.67. The company has a market capitalization of $23.46 million and a price-to-earnings ratio of -0.12.

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About Bellatrix Exploration (TSE:BXE)

Bellatrix Exploration Ltd., an oil and gas company, engages in the acquisition, exploration, development, and production of oil and natural gas reserves in the provinces of Alberta, British Columbia, and Saskatchewan in Canada. It primarily focuses on developing its two core resource plays, the Cardium and the Spirit River in Western Canada.

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