Opinions
Josef Schachter
Bellatrix Exploration Ltd.
BXE-T
PAST TOP PICK
Jul 16, 2018
$1.250
Stock price when the opinion was issued
oil
gas
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PAST TOP PICK
DON'T BUY
They are more levered towards natural gas. It all comes down to being able to live with the volatility. Anything related to Montney natural gas is betting on LNG, which may not come quickly enough. He would stay away.
oil
gas
COMMENT
Debt concerns? BXE took bankruptcy protection when debt became too much. There is no equity value in it any longer. Companies that have debt that matures in 2020 or 2021 will have issues. He sees no issues with BIR or TVE on this topic. The new Federal relief program for large companies may be difficult for companies to accept as it has provisions for up to 15% of ownership being made available in warrants to the government.
oil
gas
(A Top Pick Nov. 9/17, Down 61%) It is a cheap stock and he likes it lot. Management is focusing on paying down debt. This is a strong buy on any weakness. His Top Picks today are ones that have not moved yet. The balance sheet on this one is NOT a problem. They have grown their balance sheet recently. They have time before the renewal of their debt. He thinks it will move up sharply when people get more bullish on Natural Gas.