Bellatrix Exploration (BXE) Price Target Cut to C$1.50

Bellatrix Exploration (TSE:BXE) (NYSE:BXE) had its price target dropped by analysts at Canaccord Genuity from C$1.75 to C$1.50 in a note issued to investors on Tuesday. Canaccord Genuity’s price objective suggests a potential upside of 16.28% from the company’s previous close.

Other analysts have also recently issued reports about the stock. TD Securities upped their price target on shares of Bellatrix Exploration from C$1.50 to C$1.75 in a research note on Wednesday, May 9th. National Bank Financial dropped their price target on shares of Bellatrix Exploration from C$2.75 to C$2.25 and set a “sector perform” rating on the stock in a research note on Wednesday, March 14th. Finally, Raymond James dropped 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 research note on Wednesday, April 4th. Four research analysts have rated the stock with a sell rating and one has issued a hold rating to the company’s stock. The company presently has an average rating of “Sell” and an average price target of C$2.03.

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Shares of BXE stock opened at C$1.29 on Tuesday. Bellatrix Exploration has a 12 month low of C$1.24 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) EPS for the quarter, meeting the Zacks’ consensus estimate of C($0.26). The company had revenue of C$64.49 million for the quarter, compared to analysts’ expectations of C$60.67 million. Bellatrix Exploration had a negative net margin of 49.98% and a negative return on equity of 11.12%.

About Bellatrix Exploration

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.