Oaktree Capital Management LP lowered its position in Bellatrix Exploration Ltd (NYSE:BXE) (TSE:BXE) by 80.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,750,000 shares of the oil and gas exploration company’s stock after selling 15,000,000 shares during the period. Oaktree Capital Management LP owned approximately 7.59% of Bellatrix Exploration worth $10,674,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Eagle Investment Management LLC purchased a new stake in Bellatrix Exploration in the third quarter valued at approximately $1,153,000. Proxima Capital Management LLC boosted its position in 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 during the last quarter. Finally, Signia Capital Management LLC boosted its position in 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 during the last quarter. Hedge funds and other institutional investors own 40.17% of the company’s stock.
A number of equities research analysts recently commented on the company. Scotiabank reiterated a “hold” rating and issued a $5.00 target price on shares of Bellatrix Exploration in a research report on Tuesday, October 10th. Zacks Investment Research lowered Bellatrix Exploration from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 8th. Canaccord Genuity restated a “hold” rating and issued a $3.75 price objective on shares of Bellatrix Exploration in a research report on Friday, November 10th. Northland Securities restated a “buy” rating and issued a $4.50 price objective on shares of Bellatrix Exploration in a research report on Friday, November 10th. Finally, AltaCorp Capital lowered Bellatrix Exploration from an “outperform” rating to a “sector perform” rating in a research report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Bellatrix Exploration has a consensus rating of “Hold” and a consensus target price of $4.88.
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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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