Brokerages Set Bellatrix Exploration Ltd (BXE) Target Price at $4.88

Bellatrix Exploration Ltd (NYSE:BXE) (TSE:BXE) has been assigned a consensus rating of “Hold” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $4.88.

Several brokerages have weighed in on BXE. AltaCorp Capital downgraded Bellatrix Exploration from an “outperform” rating to a “sector perform” rating in a research note on Friday, November 10th. Northland Securities restated a “buy” rating and issued a $4.50 price target on shares of Bellatrix Exploration in a research note on Friday, November 10th. Canaccord Genuity restated a “hold” rating and issued a $3.75 price target on shares of Bellatrix Exploration in a research note on Friday, November 10th. Zacks Investment Research downgraded Bellatrix Exploration from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 8th. Finally, Scotiabank restated a “hold” rating and issued a $5.00 price target on shares of Bellatrix Exploration in a research note on Tuesday, October 10th.

Several institutional investors have recently bought and sold shares of the stock. Signia Capital Management LLC boosted its stake in shares of Bellatrix Exploration by 73.9% in the second 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. Proxima Capital Management LLC boosted its stake in shares of Bellatrix Exploration by 12.6% in the second 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, First Eagle Investment Management LLC purchased a new stake in shares of Bellatrix Exploration in the third quarter valued at approximately $1,153,000.

Shares of Bellatrix Exploration (BXE) traded up $0.06 during mid-day trading on Thursday, hitting $2.14. The company’s stock had a trading volume of 34,571 shares, compared to its average volume of 81,883. Bellatrix Exploration has a one year low of $2.08 and a one year 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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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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