Bellatrix Exploration Receives a Hold from Scotiabank

By Carrie Williams

Wall Street analyst has provided a review for the Materials company yesterday, but retained the same rating on the stock. Analyst Cameron Bean from Scotiabank rated Bellatrix Exploration (TSX: BXE) a Hold, setting a C$1 price target.

According to TipRanks.com, Bean is ranked #1947 out of 4600 analysts.

Bellatrix Exploration has an analyst consensus of Moderate Buy, with a price target consensus of C$1.21.

Based on Bellatrix Exploration’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$58.63 million and quarterly net profit of C$13.05 million. In comparison, last year the company earned revenue of C$44.64 million and had a GAAP net loss of C$55.19 million.

Bellatrix Exploration Ltd. engages 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 was founded on November 1, 2009 and is headquartered in Calgary, Canada.

The company’s shares closed on Friday at $0.75, close to its 52-week high of $1.43.