Today: Today, Bellatrix Exploration Ltd. (BXE) Lowered by The Zacks Investment Research

Today, Bellatrix Exploration Ltd. (BXE) Lowered by The Zacks Investment Research

Zacks Investment Research lowered shares of Bellatrix Exploration Ltd. (NYSE:BXE) (TSE:BXE) from a buy rating to a hold rating in a research note released on Tuesday.

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. “

Several other analysts have also commented on BXE. Canaccord Genuity set a $1.60 price objective on shares of Bellatrix Exploration and gave the stock a hold rating in a research report on Tuesday, September 20th. TD Securities reaffirmed a hold rating on shares of Bellatrix Exploration in a research report on Saturday, August 13th. AltaCorp Capital reaffirmed an overweight rating and issued a $1.60 price objective (down previously from $2.00) on shares of Bellatrix Exploration in a research report on Saturday, August 13th. Scotiabank reaffirmed a sector perform rating and issued a $1.50 price objective on shares of Bellatrix Exploration in a research report on Friday, September 16th. Finally, Credit Suisse Group AG reaffirmed a neutral rating and issued a $1.25 price objective (up previously from $1.00) on shares of Bellatrix Exploration in a research report on Thursday, September 22nd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $1.69.

Shares of Bellatrix Exploration (NYSE:BXE) opened at 0.788 on Tuesday. The company’s 50 day moving average is $0.86 and its 200 day moving average is $0.93. The firm’s market cap is $194.06 million. Bellatrix Exploration has a 52-week low of $0.75 and a 52-week high of $1.72.

Institutional investors have recently modified their holdings of the stock. Bank of Montreal Can boosted its position in shares of Bellatrix Exploration by 71.9% in the third quarter. Bank of Montreal Can now owns 120,404 shares of the oil and gas exploration company’s stock valued at $103,000 after buying an additional 50,346 shares in the last quarter. Ingalls & Snyder LLC purchased a new position in shares of Bellatrix Exploration during the second quarter valued at approximately $105,000. Credit Suisse AG boosted its position in shares of Bellatrix Exploration by 124.4% in the third quarter. Credit Suisse AG now owns 128,085 shares of the oil and gas exploration company’s stock valued at $109,000 after buying an additional 71,018 shares in the last quarter. A.R.T. Advisors LLC purchased a new position in shares of Bellatrix Exploration during the second quarter valued at approximately $215,000. Finally, Cubist Systematic Strategies LLC boosted 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 in the last quarter. 28.18% of the stock is 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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