Bellatrix Exploration Ltd (BXE) Rating Reiterated by Canaccord Genuity

Bellatrix Exploration Ltd (NYSE:BXE) (TSE:BXE)‘s stock had its “hold” rating restated by equities researchers at Canaccord Genuity in a research note issued on Friday. They currently have a $1.60 price objective on the oil and gas exploration company’s stock. Canaccord Genuity’s price target suggests a potential upside of 72.02% from the stock’s previous close.

A number of other research firms have also weighed in on BXE. Zacks Investment Research upgraded Bellatrix Exploration from a “hold” rating to a “buy” rating and set a $1.00 target price on the stock in a report on Thursday, December 8th. Scotiabank restated a “sector perform” rating and issued a $1.50 target price on shares of Bellatrix Exploration in a report on Friday, September 16th. TD Securities restated a “hold” rating and issued a $1.50 target price on shares of Bellatrix Exploration in a report on Thursday, September 22nd. Finally, Credit Suisse Group restated a “neutral” rating and issued a $1.25 target price (up previously from $1.00) on shares of Bellatrix Exploration in a report on Thursday, September 22nd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $1.65.

Analyst Recommendations for Bellatrix Exploration (NYSE:BXE)

Shares of Bellatrix Exploration (NYSE:BXE) opened at 0.9301 on Friday. The stock’s 50 day moving average price is $0.90 and its 200 day moving average price is $0.88. Bellatrix Exploration has a 12-month low of $0.72 and a 12-month high of $1.48. The firm’s market capitalization is $229.05 million.

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Hedge funds have recently modified their holdings of the company. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Bellatrix Exploration during the second quarter worth approximately $915,000. Schroder Investment Management Group raised its stake in shares of Bellatrix Exploration by 21.7% in the third quarter. Schroder Investment Management Group now owns 21,134,298 shares of the oil and gas exploration company’s stock worth $23,881,000 after buying an additional 3,762,615 shares during the period. Signia Capital Management LLC acquired a new stake in shares of Bellatrix Exploration during the second quarter worth approximately $749,000. Credit Suisse AG raised its stake in shares of Bellatrix Exploration by 124.4% in the third quarter. Credit Suisse AG now owns 128,085 shares of the oil and gas exploration company’s stock worth $109,000 after buying an additional 71,018 shares during the period. Finally, Oaktree Capital Management LP acquired a new stake in shares of Bellatrix Exploration during the third quarter worth approximately $9,974,000. Institutional investors and hedge funds own 29.27% of the company’s stock.

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.

5 Day Chart for NYSE:BXE

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