Bellatrix Exploration Ltd. (NYSE:BXE) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $1.00 target price on the oil and gas exploration company’s stock. Zacks Investment Research’s target price suggests a potential upside of 15.43% from the stock’s current price.

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. “

Other analysts have also issued reports about the stock. Dundee Securities reaffirmed a “buy” rating and set a $2.85 price objective (down from $3.00) on shares of Bellatrix Exploration in a research note on Friday, June 17th. Canaccord Genuity reissued a “hold” rating on shares of Bellatrix Exploration in a research report on Thursday, June 16th. TD Securities reissued a “hold” rating on shares of Bellatrix Exploration in a research report on Saturday, August 13th. Credit Suisse Group AG reissued a “neutral” rating and issued a $1.25 price target (up from $1.00) on shares of Bellatrix Exploration in a research report on Thursday, September 22nd. Finally, AltaCorp Capital reissued an “overweight” rating and issued a $1.60 price target (down from $2.00) on shares of Bellatrix Exploration in a research report on Saturday, August 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $1.69.

Analyst Recommendations for Bellatrix Exploration (NYSE:BXE)

Bellatrix Exploration (NYSE:BXE) traded down 2.8684% on Tuesday, hitting $0.8601. 208,623 shares of the stock were exchanged. The company’s 50 day moving average price is $0.85 and its 200-day moving average price is $0.96. Bellatrix Exploration has a one year low of $0.75 and a one year high of $2.13. The company’s market cap is $204.28 million.

Bellatrix Exploration (NYSE:BXE) last posted its quarterly earnings data on Wednesday, August 10th. The oil and gas exploration company reported ($0.17) EPS 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 firm had revenue of $48.29 million for the quarter, compared to analysts’ expectations of $43.23 million. Equities research analysts predict that Bellatrix Exploration will post ($0.30) EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its position 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. Schroder Investment Management Group increased 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 valued at $22,062,000 after buying an additional 11,857,616 shares during the period. Royal Bank of Canada increased its position 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. Cubist Systematic Strategies LLC increased 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 period. Finally, A.R.T. Advisors LLC bought a new position in shares of Bellatrix Exploration during the second quarter valued at approximately $215,000. Institutional investors own 24.05% of the company’s stock.

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.

5 Day Chart for NYSE:BXE

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