Bellatrix Exploration Ltd (BXE) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of Bellatrix Exploration Ltd (NYSE:BXE) (TSE:BXE) from a strong-buy rating to a hold rating in a research report released on Thursday, May 11th.

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. “

Separately, Canaccord Genuity raised shares of Bellatrix Exploration from a hold rating to a buy rating and set a $2.00 price objective on the stock in a report on Wednesday, March 8th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Bellatrix Exploration has a consensus rating of Hold and a consensus target price of $1.59.

Shares of Bellatrix Exploration (NYSE BXE) opened at 0.6202 on Thursday. Bellatrix Exploration has a 52-week low of $0.59 and a 52-week high of $1.25. The firm’s 50-day moving average price is $0.69 and its 200 day moving average price is $0.80. The company’s market capitalization is $152.93 million. Bellatrix Exploration’s stock is going to reverse split before the market opens on Thursday, July 6th. The 1-5 reverse split was announced on Wednesday, May 17th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, July 5th.

Bellatrix Exploration (NYSE:BXE) (TSE:BXE) last issued its quarterly earnings data on Wednesday, May 10th. The oil and gas exploration company reported ($0.03) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.03). The company had revenue of $49.87 million for the quarter, compared to analyst estimates of $48.80 million. Bellatrix Exploration had a negative net margin of 14.50% and a negative return on equity of 3.84%. On average, equities analysts forecast that Bellatrix Exploration will post ($0.06) earnings per share for the current year.

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A number of large investors have recently made changes to their positions in BXE. Signia Capital Management LLC increased its stake in shares of Bellatrix Exploration by 173.0% in the first quarter. Signia Capital Management LLC now owns 4,998,937 shares of the oil and gas exploration company’s stock valued at $3,969,000 after buying an additional 3,167,927 shares during the period. Schroder Investment Management Group increased its stake in shares of Bellatrix Exploration by 15.7% in the first quarter. Schroder Investment Management Group now owns 23,128,466 shares of the oil and gas exploration company’s stock valued at $24,054,000 after buying an additional 3,144,549 shares during the period. Norges Bank purchased a new stake in shares of Bellatrix Exploration during the fourth quarter valued at $857,000. Guardian Capital LP increased its stake in shares of Bellatrix Exploration by 25.6% in the fourth quarter. Guardian Capital LP now owns 555,200 shares of the oil and gas exploration company’s stock valued at $529,000 after buying an additional 113,000 shares during the period. Finally, Anson Funds Management LP increased its stake in shares of Bellatrix Exploration by 41.7% in the third quarter. Anson Funds Management LP now owns 12,250,000 shares of the oil and gas exploration company’s stock valued at $13,843,000 after buying an additional 3,606,500 shares during the period. Institutional investors own 46.10% of the company’s stock.

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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