Bellatrix Exploration Ltd. (BXE) Given a $1.60 Price Target by Canaccord Genuity Analysts
Bellatrix Exploration Ltd. (NYSE:BXE) has been assigned a $1.60 target price by equities research analysts at Canaccord Genuity in a report released on Tuesday. The brokerage presently has a a “hold” rating on the oil and gas exploration company’s stock. Canaccord Genuity’s target price points to a potential upside of 75.82% from the stock’s current price.
A number of other brokerages have also recently weighed in on BXE. Scotiabank restated a “sector perform” rating and set a $2.00 price objective on shares of Bellatrix Exploration in a research note on Sunday, July 10th. AltaCorp Capital reaffirmed an “overweight” rating and set a $1.60 target price (down from $2.00) on shares of Bellatrix Exploration in a report on Saturday, August 13th. Zacks Investment Research lowered Bellatrix Exploration from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. TD Securities reaffirmed a “hold” rating on shares of Bellatrix Exploration in a report on Saturday, August 13th. Finally, Dundee Securities reaffirmed a “buy” rating and set a $2.85 target price (down from $3.00) on shares of Bellatrix Exploration in a report on Friday, June 17th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $1.94.
Shares of Bellatrix Exploration (NYSE:BXE) traded up 3.7473% on Tuesday, hitting $0.9441. 506,253 shares of the stock traded hands. The stock’s market cap is $224.23 million. Bellatrix Exploration has a one year low of $0.75 and a one year high of $2.25. The company’s 50 day moving average is $0.82 and its 200 day moving average is $0.99.
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Bellatrix Exploration (NYSE:BXE) last issued its quarterly earnings data on Wednesday, August 10th. The oil and gas exploration company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.07. Bellatrix Exploration had a negative net margin of 172.35% and a negative return on equity of 7.63%. The company had revenue of $48.29 million for the quarter, compared to the consensus estimate of $43.23 million. On average, equities analysts forecast that Bellatrix Exploration will post ($0.29) EPS for the current year.
A number of institutional investors have recently modified their holdings of BXE. Schroder Investment Management Group boosted its position in shares of Bellatrix Exploration by 215.0% in the second quarter. Schroder Investment Management Group now owns 17,371,683 shares of the oil and gas exploration company’s stock worth $22,062,000 after buying an additional 11,857,616 shares in the last quarter. Royal Bank of Canada raised 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 worth $1,570,000 after buying an additional 297,815 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Bellatrix Exploration by 247.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,366,983 shares of the oil and gas exploration company’s stock worth $1,380,000 after buying an additional 973,298 shares during the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Bellatrix Exploration during the second quarter worth approximately $915,000. Finally, Signia Capital Management LLC acquired a new stake in shares of Bellatrix Exploration during the second quarter worth approximately $749,000. 24.05% of the stock is currently owned by hedge funds and other 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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