Zacks Investment Research lowered shares of Bellatrix Exploration Ltd. (NYSE:BXE) (TSE:BXE) from a buy rating to a hold rating in a report published 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. “

A number of other equities research analysts have also issued reports on BXE. Scotiabank reaffirmed a sector perform rating and set a $1.50 target price (down from $2.00) on shares of Bellatrix Exploration in a research report on Saturday, August 13th. AltaCorp Capital reaffirmed an overweight rating and set a $1.60 target price (down from $2.00) on shares of Bellatrix Exploration in a research report on Saturday, August 13th. TD Securities reaffirmed a hold rating on shares of Bellatrix Exploration in a research report on Saturday, August 13th. Canaccord Genuity reaffirmed a hold rating on shares of Bellatrix Exploration in a research report on Sunday, August 14th. Finally, Credit Suisse Group AG reaffirmed a neutral rating and set a $1.25 target price (up from $1.00) on shares of Bellatrix Exploration in a research report on Thursday, September 22nd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $1.69.

Analyst Recommendations for Bellatrix Exploration (NYSE:BXE)

Bellatrix Exploration (NYSE:BXE) opened at 0.782 on Tuesday. The stock’s market cap is $192.58 million. Bellatrix Exploration has a 12 month low of $0.75 and a 12 month high of $1.80. The stock has a 50 day moving average price of $0.86 and a 200-day moving average price of $0.93.

A number of hedge funds and other institutional investors have recently modified their holdings of BXE. Schroder Investment Management Group increased its position in shares of Bellatrix Exploration by 21.7% in the third quarter. Schroder Investment Management Group now owns 21,134,298 shares of the oil and gas exploration company’s stock worth $23,881,000 after buying an additional 3,762,615 shares during the period. Oaktree Capital Management LP purchased a new position in shares of Bellatrix Exploration during the third quarter worth approximately $9,974,000. 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 worth $1,570,000 after buying an additional 297,815 shares during the period. Goldman Sachs Group Inc. increased its position 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 period. Finally, Gilder Gagnon Howe & Co. LLC purchased a new position in shares of Bellatrix Exploration during the second quarter worth approximately $915,000. Hedge funds and other institutional investors own 28.18% of the company’s stock.

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About Bellatrix Exploration

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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