Bellatrix Exploration Ltd. (BXE) Given a $1.60 Price Target at Canaccord Genuity
Bellatrix Exploration Ltd. (NYSE:BXE) has been given a $1.60 price target by analysts at Canaccord Genuity in a research report issued to clients and investors on Tuesday. The firm currently has a a “hold” rating on the oil and gas exploration company’s stock. Canaccord Genuity’s price objective would indicate a potential upside of 75.82% from the stock’s current price.
Several other equities analysts have also commented on the company. Dundee Securities reissued a “buy” rating and issued a $2.85 target price (down previously from $3.00) on shares of Bellatrix Exploration in a report on Friday, June 17th. Scotiabank reissued a “sector perform” rating and issued a $2.00 target price on shares of Bellatrix Exploration in a report on Sunday, July 10th. Zacks Investment Research lowered Bellatrix Exploration from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. AltaCorp Capital reissued an “overweight” rating and issued a $1.60 target price (down previously from $2.00) on shares of Bellatrix Exploration in a report on Saturday, August 13th. Finally, TD Securities reissued a “hold” rating on shares of Bellatrix Exploration in a report on Saturday, August 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $1.94.
Shares of Bellatrix Exploration (NYSE:BXE) traded up 2.5055% during trading on Tuesday, hitting $0.9328. The stock had a trading volume of 439,360 shares. Bellatrix Exploration has a 12-month low of $0.75 and a 12-month high of $2.25. The stock’s 50-day moving average is $0.82 and its 200-day moving average is $0.99. The stock’s market cap is $221.55 million.
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Bellatrix Exploration (NYSE:BXE) last announced its quarterly earnings data on Wednesday, August 10th. The oil and gas exploration company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by $0.07. The company earned $48.29 million during the quarter, compared to analyst estimates of $43.23 million. Bellatrix Exploration had a negative net margin of 172.35% and a negative return on equity of 7.63%. On average, equities research analysts expect that Bellatrix Exploration will post ($0.29) EPS for the current year.
Several institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC raised its position in shares of Bellatrix Exploration by 6.6% in the second quarter. Cubist Systematic Strategies LLC now owns 248,225 shares of the oil and gas exploration company’s stock valued at $245,000 after buying an additional 15,282 shares during the last quarter. Ingalls & Snyder LLC acquired a new stake in shares of Bellatrix Exploration during the second quarter valued at $105,000. A.R.T. Advisors LLC acquired a new stake in shares of Bellatrix Exploration during the second quarter valued at $215,000. Renaissance Technologies LLC increased its stake in shares of Bellatrix Exploration by 98.7% in the first quarter. Renaissance Technologies LLC now owns 502,600 shares of the oil and gas exploration company’s stock valued at $508,000 after buying an additional 249,600 shares during the period. Finally, Royal Bank of Canada increased its stake in shares of Bellatrix Exploration by 23.1% in the second quarter. Royal Bank of Canada now owns 1,586,656 shares of the oil and gas exploration company’s stock valued at $1,570,000 after buying an additional 297,815 shares during the period. 24.05% of the stock is currently owned by institutional investors.
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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