Canaccord Genuity Sticks to Their Hold Rating for Bellatrix Exploration (BXE)


In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Bellatrix Exploration (TSX: BXE). Analyst Anthony Petrucci from Canaccord Genuity remains neutral on the stock and has a C$1.25 price target.

According to TipRanks.com, Petrucci is ranked #2936 out of 4839 analysts.

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Currently, the analyst consensus on Bellatrix Exploration is a Moderate Sell with an average price target of C$1.33, implying an 11.8% upside from current levels. In a report issued on July 18, TD Securities also reiterated a Hold rating on the stock with a C$1.75 price target.

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Based on Bellatrix Exploration’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of C$12.9 million. In comparison, last year the company had a GAAP net loss of C$69.24 million.

Bellatrix Exploration Ltd. is an oil and gas company, which engages in the exploration, acquisition, development, and production of oil and natural gas. It focuses on the operation in west central Alberta that develops Spirit River. The company was founded on November 1, 2009 and is headquartered in Calgary, Canada.

The company’s shares closed on Thursday at C$1.19, close to its 52-week low of C$1.16.

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