National Bank Financial Upgrades Bellatrix Exploration (BXE) to Sector Perform

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National Bank Financial upgraded shares of Bellatrix Exploration (TSE:BXE) (NYSE:BXE) from an underperform rating to a sector perform rating in a report issued on Friday. The brokerage currently has C$1.75 target price on the stock.

A number of other brokerages also recently issued reports on BXE. TD Securities lowered their price target on shares of Bellatrix Exploration from C$1.75 to C$1.50 and set a hold rating on the stock in a report on Wednesday, April 4th. Raymond James lowered their price target on shares of Bellatrix Exploration from C$1.50 to C$1.25 and set an underperform rating on the stock in a report on Wednesday, April 4th. Finally, Canaccord Genuity lowered their price target on shares of Bellatrix Exploration from C$1.75 to C$1.50 in a report on Tuesday, July 10th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Bellatrix Exploration currently has a consensus rating of Sell and a consensus price target of C$2.03.

Bellatrix Exploration remained flat at $C$1.25 during mid-day trading on Friday, according to MarketBeat Ratings. 208,100 shares of the company were exchanged, compared to its average volume of 383,810. Bellatrix Exploration has a 12-month low of C$1.23 and a 12-month high of C$3.84.

Bellatrix Exploration (TSE:BXE) (NYSE:BXE) last announced its quarterly earnings results on Tuesday, May 8th. The company reported C($0.26) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of C($0.26). Bellatrix Exploration had a negative net margin of 49.98% and a negative return on equity of 11.12%. The firm had revenue of C$64.49 million for the quarter, compared to the consensus estimate of C$60.67 million.

Bellatrix Exploration Company Profile

Bellatrix Exploration Ltd., an oil and gas company, engages in the acquisition, exploration, development, and production of oil and natural gas reserves in the provinces of Alberta, British Columbia, and Saskatchewan in Canada. It primarily focuses on developing its two core resource plays, the Cardium and the Spirit River in Western Canada.

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Analyst Recommendations for Bellatrix Exploration (TSE:BXE)

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