Bellatrix Exploration (BXE) Cut to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Bellatrix Exploration (NYSE:BXE) (TSE:BXE) from a hold rating to a sell rating in a report issued on Tuesday morning.

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. “

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A number of other brokerages also recently issued reports on BXE. Canaccord Genuity reaffirmed a hold rating and set a $3.75 price target on shares of Bellatrix Exploration in a report on Friday, November 10th. Northland Securities reaffirmed a buy rating and set a $4.50 price target on shares of Bellatrix Exploration in a report on Friday, November 10th. AltaCorp Capital downgraded Bellatrix Exploration from an outperform rating to a sector perform rating in a report on Friday, November 10th. BMO Capital Markets began coverage on Bellatrix Exploration in a report on Thursday, January 11th. They set an underperform rating on the stock. Finally, Raymond James Financial downgraded Bellatrix Exploration from a market perform rating to an underperform rating in a report on Thursday, December 14th. Six research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $3.41.

Bellatrix Exploration (NYSE:BXE) opened at $1.17 on Tuesday. The stock has a market capitalization of $55.80, a price-to-earnings ratio of 2.67 and a beta of 0.96. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.45. Bellatrix Exploration has a 1-year low of $0.99 and a 1-year high of $4.25.

A number of hedge funds have recently bought and sold shares of BXE. Proxima Capital Management LLC lifted its holdings in Bellatrix Exploration by 40.1% in the fourth quarter. Proxima Capital Management LLC now owns 1,800,000 shares of the oil and gas exploration company’s stock valued at $3,079,000 after acquiring an additional 515,000 shares during the period. Deutsche Bank AG lifted its holdings in Bellatrix Exploration by 7,718.2% in the fourth quarter. Deutsche Bank AG now owns 426,872 shares of the oil and gas exploration company’s stock valued at $734,000 after acquiring an additional 421,412 shares during the period. First Eagle Investment Management LLC bought a new position in Bellatrix Exploration in the third quarter valued at about $1,153,000. Finally, Renaissance Technologies LLC bought a new position in Bellatrix Exploration in the fourth quarter valued at about $335,000. 29.14% of the stock is currently owned by institutional investors.

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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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