Shares of Bellatrix Exploration Ltd (TSE:BXE) (NYSE:BXE) were down 5.1% during trading on Monday after AltaCorp Capital downgraded the stock from an outperform rating to a sector perform rating. The company traded as low as C$3.12 and last traded at C$2.98. Approximately 172,402 shares changed hands during trading, an increase of 63% from the average daily volume of 105,715 shares. The stock had previously closed at C$3.14.
A number of other research firms have also recently commented on BXE. Raymond James Financial, Inc. dropped their price objective on Bellatrix Exploration from C$4.00 to C$3.75 in a research report on Tuesday, October 24th. TD Securities lowered their price target on Bellatrix Exploration from C$4.25 to C$4.00 and set a “hold” rating for the company in a report on Friday, November 10th. Finally, Eight Capital lowered their price target on Bellatrix Exploration from C$4.50 to C$4.00 in a report on Monday. Seven investment analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average price target of C$2.61.
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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.
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